
Softbank-backed hospitality firm Oyo on July 16 closed a debt financing round of $660 million from global institutional investors with an aim to retire some of its existing debts and pump up its operations and product technology.
This happens at a time when the board of the company has asked the hospitality firm to start getting ready to go public even as the pandemic continues to disrupt the travel space.
In an interaction with Moneycontrol, group chief financial officer Abhishek Gupta talks about the structure of debt financing which is new to the Indian market, the company’s IPO plans, and market recovery expectations other things.
This is an opportunity financing by Oyo to raise a long term non-diluted stable capital from marquee institutional investors. We are the first Indian company to access the US leverage finance market in the form of term loan B.