Fri 02/10/2023 10:18 AM
Byju’s has proposed a deal to lenders to address a default arising from a delay in reporting earnings in exchange for a coupon boost and some fees as well as warrants on a valuable subsidiary, according to sources.
However, as lenders had sought accelerated repayment of their L+550 bps term loan due 2026 with the Bangalore, India-based education technology company’s cash in the United States, the company’s offer is not likely to be enough for lenders to agree to a deal, the sources said.
The...
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