Waymo Closes $5 Billion Term Loan, Its First Debt Financing
PIMCO, Blackstone and Sixth Street led the syndicate, with Goldman Sachs as sole lead bookrunner, following a $16 billion equity round earlier this year.
Photo: Dllu / CC BY 4.0 via Wikimedia Commons
Waymo, the self-driving unit of Alphabet, said on October 8 that it has closed a $5 billion term loan, the first debt financing in its history.
The lenders
PIMCO, Blackstone and Sixth Street were the lead syndicated lenders, and Goldman Sachs was the sole lead bookrunner. Waymo named Capital Group, Loomis Sayles and T. Rowe Price as significant lenders. Other participants include:
- Apollo
- Blue Owl
- Diameter Capital Partners
- Franklin Templeton
- Fidelity Management & Research Company
- HPS Investment Partners
- Oaktree
Waymo did not publish an interest rate, maturity or other terms.
What the money is for
The company said the capital will support continued expansion of its fully autonomous ride-hailing service in the United States and internationally, and described the loan as "additional financial flexibility to strengthen our balance sheet."
Context
Earlier in 2026, Waymo closed a $16 billion equity investment to expand its Waymo Driver technology. Last month it launched service in its fifteenth U.S. city and announced additional international cities.
Adding term debt alongside equity gives the company a second funding channel as it scales a capital-intensive business built on vehicles, depots and remote support. Waymo did not disclose fleet size or ride volumes in the announcement.
