Online education provider Byju's is seeking to restructure its $1.2 billion loan as it struggles with steep losses and cost reduction targets, according to people familiar with the information.
Byju's valued at $22 billion, has appointed an adviser to discuss tweaks in covenants of the term loan B with creditors, the people said, asking not to be named as the information is not public. Discussions on more lenient terms, including lower coupons and more time to repay, are continuing and no final decision has been reached, one of the people said, without providing further details.
This story is from the December 08, 2022 edition of Business Standard.
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This story is from the December 08, 2022 edition of Business Standard.
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