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Uber prices upsized senior notes offering

Uber Technologies Inc. on Sept. 12 priced $1.2 billion principal amount of 7.500% senior notes due 2027.

The ride-hailing firm increased the principal amount of the offering to $1.2 billion from $750 million. Rasier LLC, an Uber subsidiary, will guarantee the notes.

The company plans to use the proceeds of the offering to partly finance its $3.1 billion acquisition of Dubai-based rival Careem Networks FZ LLC.

The offering is expected to close Sept. 17, subject to customary closing conditions.

The notes are being offered for sale to qualified institutional buyers in offerings exempt from registration pursuant to Rule 144A under the Securities Act and to persons outside the U.S. in compliance with Regulation S under the Securities Act.