Ride-hailing firm GRAB HOLDINGS is making its debut in the US Term Loan B market with a US$750m borrowing, in a rare move for a South-East Asian borrower. JP Morgan is leading the loan, which will be the Singapore-headquartered company's largest debt market financing and the first US TLB from Asia's ride-hailing sector. Grab was founded in 2011 and has yet to become profitable, as it is burning a lot of cash to fund its expansion. It is one of South-East Asia's most valuable start-ups with a valuation of more than US$15bn and has ambitions to become a one-stop shop for services such as food delivery, payments and insurance.
展开▼
