“Grab is taking advantage of our healthy cash position to reduce our gross debt balance and generate interest savings, given the macroeconomic environment,” said Chief Financial Officer Peter Oey.
Grab Holdings Ltd. on Monday said it prepaid US$600 million ($806.6 million) in debt ahead of a 2026 maturity, taking advantage of excess cash on its balance sheet.
The Singapore-based ride-hailing and delivery company completed the transaction last week, bringing its debt under an outstanding term loan to US$517 million, down from the previous balance of US$1.117 billion. Grab also has about US$200 million in other bank debt.
