Waymo Enters Final Talks with PIMCO, Blackstone, and Sixth Street for First-Ever $3B Debt Financing

Alphabet’s ($GOOGL) autonomous driving unit, Waymo, is in advanced final negotiations with major private credit providers—including PIMCO, Blackstone, and Sixth Street—to secure over $3 billion in unrated debt.
Key details of the milestone financing include:
- Deal Terms & Pricing: The unrated debt package is reportedly slated to price at 500+ basis points over the benchmark.
- Capital Backing: The move follows a massive $16 billion equity raise earlier this year that valued the self-driving pioneer at $126 billion.
- Operational Scale: Backed by Alphabet, Waymo currently manages over 500,000 paid rides weekly across 14 U.S. cities, with aggressive targets to hit 1 million weekly rides across 20 global cities this year.