Grab Holdings Retires $600 Million in 2026 Debt With Extra Cash

Grab Holdings Ltd. on Monday said it prepaid $600 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 $517 million, down from the previous balance of $1.117 billion. Grab also has about $200 million in other bank debt.

“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 in November bought ...