Grab upsizes debut term loan to $2 billion on strong investor demand

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By Anshuman Daga
SINGAPORE (Reuters) - Southeast Asian ride-hailing and food delivery giant Grab has raised $2 billion from its first term loan, in what it said was the largest institutional debt in Asia's technology sector, as the company expands its regional services.
The five-year senior secured loan was upsized from the initial $750 million after the company secured commitments from international institutional investors, Singapore-based Grab said in a statement on Monday.
Anthony Tan, group CEO & co-founder of Grab said that investors recognised the value of Grab's super app platform, as "we continue making consistent progress in achieving our growth and sustainability milestones."
Backed by investors including Softbank Group Corp, Grab has evolved from a ride-hailing app operator to a one-stop shop for services such as food delivery, payments ...


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