Waymo in Final Talks for First Debt Raise of More Than $3 Billion From Pimco, Blackstone

Alphabet’s robotaxi unit Waymo is in the final stages of talks to raise debt for the first time, seeking more than $3 billion from lenders including Pacific Investment Management Co., Blackstone Inc. and Sixth Street Partners as it races to scale driverless ride-hailing worldwide. The loan would be unrated and could price at more than 500 basis points over the benchmark, according to people familiar with the matter, and Goldman Sachs is advising a closing that could come in the coming days, though terms may still change.