GC
Lenders rush to Grab loan, size gets boost to $1.75bn
Singaporean ride-hailing company Grab Holdings has boosted the size of its term loan B after receiving a strong response from the market, setting the stage for more Asian start-up firms to head to the US for financing.
Grab has increased the five year deal to $1.75bn from $750m. On top of that, thanks to the solid interest from lenders, the company is expected to cut the pricing below the initial indicative range, which was set between 525bp and 550bp with a 1% floor at 97,
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