Oyo Talks to Apollo for $660 Million Refinance on IPO Delay
Oyo Hotels, the hospitality startup backed by SoftBank Group Corp., is in discussions with Apollo Global Management Inc. to refinance a $660 million loan. This move comes as Oyo seeks additional time to reduce its debt, following a delay in its initial public offering (IPO), sources familiar with the matter revealed.
Oravel Stays Pvt, Oyo’s parent company, is reportedly seeking to extend the loan’s maturity to five years, compared to the existing 2026 deadline. The negotiations are ongoing, with a decision potentially being reached as early as next month, according to insiders.
Read more: https://www.yourtechstory.com/2023/10/09/oyo-talks-to-apollo-for-660-million-refinance-on-ipo-delay/
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