本周早些时候，我们报道了租车服务公司Uber请高盛（Goldman Sachs）为其融资的消息，该公司打算向高盛的高净值客户定向发行可转债。这和Uber的机构融资方案互不相干——今天披露的消息显示，后者对Uber的融资前估值为400亿美元，融资额则超过18亿美元（高盛已经收到了其中的12亿）。

    现在我们又获得了一些高盛向客户出售Uber可转债的消息，此举最终筹集的资金可能在10亿美元左右。了解情况的消息人士透露，这批可转债的定价基础不是上述400亿美元的估值，而是按Uber的最终IPO发行价折让30%。

    也就是说，要想让高盛客户获得跟机构投资者一样的增值空间，Uber的IPO估值需要达到约520亿美元。同时Uber还得成功上市，而这可能要等到一年多以后。Uber被收购的可能性非常小，但万一出现这种情况，上述可转债将如何处理我们尚不清楚。我的猜测是它们可以按类似的估值水平转换成股票。

    Uber女发言人拒绝对此发表评论。（财富中文网）

    译者：Charlie

    。

    Earlier this week we reported that Uber had hired Goldman Sachs to raise money from the bank’s high-net-worth clients, via a private placement of convertible notes. This was separate from Uber’s institutional fundraise, which today was revealed to be for upwards of $1.8 billion at a $40 billion pre-money valuation (with $1.2 billion already in the bank).

    Now we have a bit more information on the Goldman offering, which could end up raising around $1 billion. Sources familiar with the situation say that the securities will not be priced to the $40 billion valuation, but rather at a 30% discount to Uber’s eventual IPO price.

    That means Uber would need to be worth around $52 billion at IPO in order for the Goldman investors to receive the same upside as the new institutional buyers. Uber also would need to go public, which likely is more than a year off. No word on what happens to the convertible notes in the highly unlikely case Uber is sold, although my assumption is that the conversion calculation would be similar.

    An Uber spokeswoman declined to comment.