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Grab bags $500 million in debt facilities

Trinity Chua Published on Mon, Jun 18, 2018 / 11:26 AM GMT+8

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SINGAPORE (June 18): Grab has secured a $500 million five-year asset-backed syndicated facility which the ride-hailing firm intends to grow its Singapore vehicle fleet with.

The latest facility deal is backed by car assets in Singapore, and was 2.5 times oversubscribed with 16 participants in total, including banks.

This comes as part of the US$700 million ($946 million) in debt financing announced by Grab last October.

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