OYO To Refile IPO Papers After Raising $450 For Refinancing A Loan

Share via:


SUMMARY

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.)





Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

OYO To Refile IPO Papers After Raising $450 For Refinancing A Loan


SUMMARY

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.)





Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

Security Bite: North Korean hackers impersonate job recruiters to...

9to5Mac Security Bite is exclusively brought to you...

Asset manager says Trump admin may make Bitcoin strategic...

Bitcoin has a supply cap of 21 million,...

Rumor: iPhone SE 4 to feature OLED display, new...

In addition to new details about next year’s...

Popular

Upcoming Events

Startup Information that matters. Get in your inbox Daily!