Brief
Waymo secures $5 billion loan from Blackstone, PIMCO and other lenders
The financing, Waymo's first debt deal, will support growth in U.S., Europe and Japan.
By Felo News Desk · Published
Waymo, the autonomous‑vehicle subsidiary of Alphabet, announced on Thursday that it closed a $5 billion loan with a consortium that includes Blackstone, PIMCO, Sixth Street and several other institutional investors.
What happened
The loan, described by Waymo as its first debt financing, was arranged by Goldman Sachs, which acted as the sole lead bookrunner. In addition to Blackstone, PIMCO and Sixth Street, lenders such as Capital Group, Loomis Sayles, T. Rowe Price, Apollo, Blue Owl, Diameter Capital Partners, Franklin Templeton, Fidelity Management & Research, HPS Investment Partners and Oaktree participated.
What the reports add
TechCrunch noted that the financing arrives as Waymo accelerates its commercial rollout in existing U.S. cities while preparing to enter new markets in Europe and Japan. The article also highlighted that Waymo previously relied on equity from its parent company and outside investors, citing a February equity raise of $16 billion that lifted its valuation to $126 billion.
What was said
A Waymo spokesperson told TechCrunch via email that the loan will give the company “financial flexibility to strengthen its balance sheet and position it to capitalize on the significant opportunities ahead, especially as a scaling business with proven commercial demand and improved road safety outcomes in the communities in which we operate.”
How it came about
Waymo’s shift from equity‑only funding to debt follows years of testing autonomous technology, the launch of its first robotaxi market in Phoenix in 2016, and recent expansions into 15 U.S. markets, including California, Texas and Florida. The new financing is intended to support further growth, including planned launches in London and Tokyo.
Key facts
- Waymo closed a $5 billion loan. (techcrunch.com)
- Lenders include Blackstone, PIMCO, Sixth Street and a dozen other investors. (techcrunch.com)
- Goldman Sachs acted as the sole lead bookrunner. (techcrunch.com)
- The loan is Waymo's first debt financing. (techcrunch.com)
- Waymo aims to expand robotaxi services to Europe and Japan. (techcrunch.com)
Sources
- [1] techcrunch.com — originally reported as “Waymo locks in $5B loan from Blackstone, PIMCO to fuel robotaxi expansion”
