Waymo Upsizes Inaugural Private Debt Deal to $5B, Pimco and Blackstone Lead at 5.25pp Over Benchmark

Bloomberg reports Waymo increased its first-ever private loan to $5 billion, up from an initial $3B target, as the robotaxi unit expands globally and absorbs rising AI costs. Pacific Investment Management, Blackstone and Sixth Street Partners participated and Goldman Sachs helped arrange the loan, which priced at 5.25 percentage points above the benchmark. The debt follows a $16B equity round earlier this year at a $126B valuation that funded custom silicon for Waymo's autonomous fleet.