Uber lines up $7.7B revolver to fund Delivery Hero takeover

What's the deal? Uber has secured a new $7.7 billion senior unsecured revolving credit facility, led by Bank of AmericaDealroom has a profile for this one. Try Dealroom → and Morgan StanleyDealroom has a profile for this one. Try Dealroom →. The facility, agreed on August 6, 2026, replaces Uber's 2024 revolver and runs to 2031.

Why now? The financing supports Uber's voluntary public takeover offer for Delivery Hero. Alongside the revolver, Uber entered a senior unsecured term loan in two tranches with Morgan Stanley to fund the bid, refinance Delivery Hero's debt and cover transaction costs.

The new term facility cut commitments under an existing bridge facility by €4 billion. Uber also amended that bridge agreement to adjust default mechanics and thresholds, aligning covenants across its financing package.

What's the endgame? The revolver, undrawn apart from transferred letters of credit, boosts Uber's liquidity for general corporate purposes while it pursues one of its largest delivery consolidation plays. Uber runs ride-hailing, food delivery and logistics platforms worldwide.

By the numbers: The facilities carry customary covenants, including a minimum interest coverage ratio and rating-linked pricing. Uber holds a market capitalisation of $143.2 billion and reported roughly $10 billion in trailing free cash flow.

The signal: The financing shows that debt markets remain open to profitable platform companies pursuing scale through acquisition.

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