The
cab-hailing company is in talks with a number of large banks for
the loan, asking them how much they would commit and at what
terms, the Journal reported, citing the people. (http://on.wsj.com/1JFcZP0)
About six to seven banks are expected to be part of the
facility, the newspaper said.
An initial public offering is not imminent, the Journal
reported, adding that one person said a debut was not expected
until next year at the earliest.
The credit facility, known as a revolver, is not needed to fund
Uber's day-to-day business, the Journal reported.
San Francisco-based Uber, which has grown rapidly in value to be
worth around $40 billion, recently submitted a $3 billion bid
for Nokia Oyj's map business HERE.
Uber declined to comment.
(Reporting by Rishika Sadam in Bengaluru; Editing by Anupama
Dwivedi)
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