Waymo Secures $5 Billion Credit Facility for Driverless Vehicle Services
The autonomous vehicle company, backed by Alphabet, has completed a major funding round in line with its global and national market growth targets.
Waymo, the autonomous vehicle developer operating under Alphabet, has successfully finalized a $5 billion term loan agreement to expand its driverless ride-hailing services both across the United States and internationally.
Details of the Financing Agreement
According to the official announcement by Waymo, an important $5 billion term loan agreement was signed to enhance autonomous vehicle technologies and passenger transportation capacity.
Leading Financial Institutions
In this large-scale credit agreement, major financial institutions such as PIMCO, Blackstone, and Sixth Street stood out as the leading financing providers.
Lenders and Lead Bookrunner
While other key lenders of the transaction included Capital Group, Loomis Sayles, and T. Rowe Price, Goldman Sachs undertook the role of the sole lead bookrunner for the agreement.
Global and Local Growth Moves
Expanding its fleet of driverless vehicles, the company commenced operations in its fifteenth U.S. city last month while concurrently sharing its plan to enter the Singapore market during the same period.
Having raised a total of $16 billion in its capital raise round earlier in the year, the venture reached a valuation of $126 billion at that time.