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Edtech major BYJU's is mulling to sell two of its subsidiaries, Epic and Great Learning, to raise between $800 million and $1billion, amid reports that the company has formulated a proposal to repay its outstanding $1.2 billion Term Loan B ...
The company has put two of its group firms -- higher education platform Great Learning and kids-focused digital reading platform Epic – on sale to raise immediate funds to meet the repayment obligations towards the $1.2 billion of Term Loan B it availed from a consortium of US-based creditors, sources close to the development said.
Byju's has been in discussions with the lenders and has made a proposal to clear its Term B loan, according to a report
BYJU'S has put two of its subsidiaries, Epic and Great Learning, on the market, looking to raise between $800 Mn and $1 Bn from the sale.
The company is offering to repay $300 million of the distressed debt within three months