Byju’s Lenders Meet With Advisers After Missed Loan Interest
- Lenders explore options including amendment or litigation
- Byju’s didn’t pay $40 million in interest due on term loan
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Holders of Byju’s $1.2 billion term loan and their advisers are weighing options including negotiating with the company for an amendment, litigating or attempting to seize collateral after the company missed an interest payment on the debt, according to people with knowledge of the matter.
The group mulled options on a call held late Wednesday, said the people, who asked not to be identified because the matter is private. The company earlier reached out to a broad group of lenders and scheduled a call on Monday to discuss a loan amendment proposal, Bloomberg previously reported.