The ride-hailing company Uber has raised 2 billion dollars before the planned IPO in 2019.  The company planned first to issue 1,5 billion dollars junk bond, but raised the amount after the demand on last Wednesday. The underwriter of this private placement was Morgan Stanley.

The valuation of the company has been around 120 billion dollars, which will be one of the biggest tech offerings next year. Also the rival, Lyft, will be on the markets and according to different sources the timetable for Lyft´s  IPO would be Mars-April 2019. The timing for Uber is still under consideration.

Some analysts say that the junk bond issuance was a good sign for the future, while Uber at the moment cannot pay interests from earnings while the company is making loss. This is also one reason Uber has announced that it will work for other sectors like Food Deliveries etc in order to increase the use of the efficient logistic network. Some also suggest that it could be part of e-commerce deliveries as well.

The high-yield bond markets have been active lately, while also WeWork and Tesla (TSLA) have used the market situation for new issuances.