OYO s Singapore arm secures $200M SoftBank loan
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Hospitality major OYO Hotels & Homes Singaporean subsidiary has received a term loan from SoftBank.
A regulatory filing showed that OYO Hotels (Singapore) Pte Ltd has secured a loan of $200 million from SB Investment Holdings (UK), an affiliate of SoftBank Vision Fund, for enhancing liquidity through the pandemic and strengthening its balance sheet.
The transaction was planned for 2020 and is being consummated now.
OYO has started recording steady signs of recovery across the globe led by its business in India, Europe and Southeast Asia while sustaining its gross margin to 100 per cent of pre-COVID levels.
PFC-REC to extend ₹4,058-crore loan to Bhutan hydro project
March 11, 2021
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Power Finance Corporation, along with subsidiary REC, on Thursday signed an MoU with Kholongchhu Hydro Energy Ltd to extend a term loan of ₹4,058 crore for a 600 MW hydroelectric project in Trashi Yangtse, Bhutan. The project is proposed to be funded in a debt-to-equity ratio of 70:30, PFC said in a statement. The loan shall be shared in equal proportion by PFC and REC. An additional ₹400 crore is proposed to be arranged from Bank of Bhutan and NPPF, Bhutan.
A joint venture between India’s SJVN and Bhutan’s Druk Green Power Corporation, Kholongchhu Hydro Energy Ltd will build the hydroelectric plant, the first project in Bhutan to be executed under a JV model, the statement said. The project is expected to be commissioned in the financial year ending March 2026 and will generate about 2,569 million units of energy which will meet the future power requirement of India and Bhutan, it added.
WPP boss Mark Read says he expects a ”solid year of recovery” for the holding company amid the vaccine rollout after it reported a £2.79bn ($3.89bn) pre-tax loss for a Covid-ravaged 2020.