OYO raises $660 million term-loan funding from global institutional investors
The Hindu
The offer was oversubscribed by 1.7 times and the company received commitments of close to $1 billion from leading institutional investors, OYO said.
Hospitality firm OYO on July 16 said it has raised TLB funding of $660 million (nearly ₹4,920 crore) from global institutional investors and the capital will be used for paring debt and other business investments. The offer was oversubscribed by 1.7 times and the company received commitments of close to $1 billion from leading institutional investors, OYO said in a statement. TLB refers to a tranche of senior, secured, syndicated-credit facility from global institutional investors, it added.
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