The travel tech company is close to finalising the refinancing plans by raising capital via dollar bonds
The loan bonds are expected to carry an interest rate of 9-10% per annum
OYO has already submitted an application to withdraw its current draft red herring prospectus
SoftBank-backed oyo
is reportedly preparing to refile the draft papers for its much-anticipated initial public offering (IPO), as the travel tech company is close to finalising its refinancing plans.
The company is looking to raise up to $450 Mn through the sale of dollar bonds, with JP Morgan expected to lead the refinancing effort. The bonds are anticipated to carry an interest rate of 9-10% per annum, news agency PTI reported.
OYO has already submitted an application to withdraw its current draft red herring prospectus (DRHP) with the markets regulator SEBI. The company plans to refile an updated version of the DRHP following the completion of its bond issuance.
“The refinancing will result in material changes to OYO’s financial statements. Hence, as per existing regulations, it will need to revise its filings with the regulator,” the report quoted a source as saying.
(The story will be updated soon.)
