Indian multinational educational technology company, Byju's has reportedly raised $1.2 billion through a term loan from the foreign market. Speculation are made that Byju’s has taken benefit of interest rate arbitrage accessible in worldwide markets, which has resulted in record-low rates for loan. Kamal Yadav, Managing Director at Morgan Stanley India, said that notably, from India and Asia, this is a major unrated Term loan B (TLB) and one of the largest unrated TLBs worldwide. TLB is also denoted as an institutional term loan. On the Workfront, Byju collaborates with US investment banks Morgan Stanley, JPMorgan, and Morgan Stanley to structure the loan.

Source: Economic Times November 09, 2021 13:31 UTC