BYJU’S agrees to pay higher interest on $1.2 Bn term loan
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Edtech decacorn BYJU’S has reportedly offered to increase the interest rate on its $1.2 Bn term loan B as the company renegotiates debt-financing arrangements. According to sources cited by ET, the edtech major might finalise the new debt structure with a 200-250 bps increase in interest rate. The edtech giant, which has been on a cost-cutting spree recently, raised the TLB in November 2021 at Libor plus a floating interest rate of 550 bps.