OYO plans to refile its IPO after refinancing up to $450m via dollar bond sale, with JP Morgan as lead banker.
Softbank-backed OYO plans to refile its IPO after finalizing its refinancing plans to raise up to $450m via the sale of dollar bonds. JP Morgan is the likely lead banker for the refinancing, with an estimated interest rate of 9-10% per annum. OYO has withdrawn its current DRHP and will refile an updated version after the bond issuance. The company's parent, Oravel Stays Ltd, prepaid a significant debt amount in November.
May 18, 2024
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