Oyo in Discussions with Apollo for $660-Million Loan Refinancing After IPO Delay
- ByStartupStory | October 6, 2023
Oyo Hotels and Homes, backed by SoftBank, is reportedly in talks with Apollo Management Inc to refinance a $660-million loan following delays in its planned initial public offering (IPO), according to sources familiar with the matter. The company aims to extend the loan’s maturity to five years, compared to the current 2026 deadline.
Oyo had originally intended to go public in 2021 but has faced multiple delays in its share sale. These delays have coincided with the departure of senior executives as the company seeks to reduce its debt burden.
While discussions are ongoing, a decision regarding the loan refinancing could be reached as early as next month. The company emphasized that no formal approvals or decisions have been made at this time.
Exciting news! We’re now on WhatsApp Channels too. Subscribe today by clicking the link and stay updated with the latest insights in the startup ecosystem! Click here!
Earlier this year, Oyo submitted a confidential “pre-filing” document, signaling its intention to proceed with a potentially scaled-down IPO.
Follow Startup Story
Related Posts
