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BYJU TLB
Byju’s crisis timeline: From edtech giant to fighting legal battlesByju’s, the once celebrated edtech giant, has found itself embroiled in a prolonged legal and financial crisis. Delayed audits, funding sho...- Byju’s obligated to repay $1.2 billion with interest, says US lendersThe lenders say the troubled edtech company has not made any contractually due payments in over 17 months and neither founder Byju Raveendr...
- Byju’s asset sale hangs fire amid investor flare-upsUnlike Epic — which is also on the block — the sale of Great Learning is being overseen directly by its founder Mohan Lakhamraju, along wit...
- Byju’s denies hiding $533 million in hedge funds, says money invested in ‘high-grade fixed income assets’Byju’s statement was in response to a Bloomberg report that said the Bengaluru-based firm’s lenders had alleged that the edtech company hid...
- Byju’s puts Epic, Great Learning on sale to clear $1.2 billion loanByju’s has been working with bankers to sell the two assets to strategic investors and the sources told us it has garnered some interest. S...
- Byju's interest cost on term loan may jump by $50-60 million a year under new termsEdtech firm Byju's may have to pay an additional $50-60 million annually in interest on its $1.2 billion term-loan facility as part of new ...
- Byju’s remits remaining PF contribution for employees after delayAccording to EPFO rules, employers or companies are mandated to deposit the PF for a particular month by the 15th of the next month.
- Byju’s, lenders aim to strike new pact for $1.2 billion loan by August 3A formal agreement with lenders is of considerable significance for Byju’s as its differences with the former over the $1.2 billion TLB hav...
- Exclusive: Byju’s, lenders agree to alter terms of $1.2 billion loanCreditors could drop the demand for accelerated repayment; all litigations may come to an end if talks turn out to be fruitful.
- Heart goes out to team members who are facing downsizing: Byju Raveendran writes to staffByju's has undertaken multiple rounds of layoffs amid uncertainty around the company's cash position and overall slowdown in its business p...
- Byju’s lenders open to negotiations, seek draft loan amendment proposalReject call for one-on-one meetings, will act collectively on disputed $1.2 billion term loan B
- Lenders call Byju’s lawsuit ‘meritless’, an effort to avoid obligationsAfter filing suit against American investment management firm Redwood and its entities, Byju’s missed its quarterly interest payment of abo...
- Byju’s misses $40 million loan payment, sues term loan lender RedwoodIn its suit, edtech major Byju’s sought to “disqualify” lender Redwood, which allegedly has taken on “predatory tactics”, and consistently ...
- Timeline: Byju's $1.2 billion loan caseThe edtech company missed the June 5 deadline to make a quarterly interest payment of $40 million, and said it would not make any further r...
- Byju’s defaults on $40 mn loan payment, sues lender; Sequoia India is now Peak XV PartnersDays after its negotiations with creditors to restructure a $1.2 billion term loan fell through, edtech firm Byju’s missed a quarterly inte...
- Byju’s skips $40 million loan payment in dispute with lendersByju’s did not pay $40 million in interest that was due on Monday, according to people with knowledge of the matter. The company said in a ...
- Byju’s lenders seek $200 million prepayment over restructuring $1.2 billion loanEdtech company yet to agree to the clause; lenders also want fortnightly updates on firm’s cash position. Byju’s holds $650 million in over...
- Vedanta’s Ajay Goel joins Byju’s as CFOGoel, who has worked in senior positions in firms such as Daiageo and GE, is joining Byju’s at a time when the company is in the middle of ...
- Exclusive: Byju’s offers to pay higher interest rate on $1.2-billion loanCreditors may hike rate by 200-300 bps as debt-financing pact being reworked.
- Edtech unicorn Byju's raises $1.2 billion via term loanByju’s, India’s highest valued edtech startup, has taken advantage of the interest rate arbitrage available in global markets, with record ...
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