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Oyo offers generous terms for $600 million loan Top Searches Oyo offers generous terms for $600 million loan Bloomberg / May 21, 2021, 09:26 IST FacebookTwitterLinkedinEMail NEW DELHI: Oyo Hotels, one of India’s most valuable startups, is offering unusually generous terms to investors as it seeks to raise $600 million in debt, following a fresh surge of coronavirus cases in its home country that decimated travel and undercut its recovery plans. Oravel Stays Pvt, as the parent company is officially known, is discussing with banks and investors a five-year term loan B at 850 basis points over Libor, higher than the usual guidance given for recently issued term loan Bs in the Asia-Pacific market, according to Bloomberg-compiled data. The interest rate is similar to the 875 basis points over the BBSY benchmark paid by Mission Group BidCo Pty Ltd on a seven-year term loan B signed in June 2020.
Oyo Hotels, one of India’s most valuable startups, is offering unusually generous terms to investors as it seeks to raise $600 million in debt, following a fresh surge of coronavirus cases in its home country that decimated travel and undercut its recovery plans. Oravel Stays Pvt, as the parent company is officially known, is discussing with banks and investors a five-year term loan B at 850 basis points over Libor, higher than the usual guidance given for recently issued term loan Bs in the Asia-Pacific market, according to Bloomberg-compiled data. The interest rate is similar to the 875 basis points over the BBSY benchmark paid by Mission Group BidCo Pty Ltd on a seven-year term loan B signed in June 2020.
Moody's Investors Service has assigned a first-time B3 corporate family rating (CFR) to Oravel Stays Private Limited, popularly known as the hospitality chain Oyo. Moody’s CFRs are opinions of a corporate family’s ability to honor all of its financial obligations. The bond credit rating firm also assigned a B3 rating to the senior secured term loan to be issued by Oravel Stays Singapore Pte. Ltd, Oyo's wholly owned subsidiary. The proposed loan will be guaranteed by Oyo and many of its units, it said in a note on Thursday. Bloomberg reported Thursday that India’s Oyo is looking to raise $600 million in debt to bolster its finances, citing sources. This comes after the second wave of Covid-19 in India affected travel demand and hurt the company’s recovery effort, Bloomberg added. The loan issuer will be Oyo’s Singapore entity.
Second COVID-19 surge will delay earnings recovery for Indian companies : Moody's By IANS | 0 Views Moody's.. Image Source: IANS News Singapore, May 18 : India's sharp rise in infections will disrupt earnings recovery of companies recorded over the past six months, a research report by Moody's Investors Service has said. A prolonged and wider lockdown will have a more severe effect on earnings recovery India's largely regional and less stringent lockdowns amid the second wave of coronavirus cases so far have had a limited impact on economic activity. If infections fail to decline to more manageable levels, however, lockdowns may be prolonged and widen, which will have a more severe effect on companies' earnings recovery, according to the new report.
Coronavirus resurgence in India will delay earnings recovery: Moody's ANI | Updated: May 17, 2021 18:01 IST Singapore, May 17 (ANI): If coronavirus infections in India fail to decline to more manageable levels, lockdowns may be prolonged and widen which will have a more severe effect on companies' earnings recovery, according to Moody's Investors Service. So far, the largely regional and less stringent lockdowns amid the second wave have had a limited impact on economic activity. "Movement restrictions and weaker consumer sentiment amid the second virus wave will hit housing and automobile sales as well as transportation-fuel demand temporarily," said Moody's Analyst Sweta Patodia. "Still, rising consumer preference for remote working and personal mobility solutions will drive long-term demand for bigger homes and entry-level cars," she said.
Analysts cautious on corporate earnings growth amid Covid-led lockdown business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Moody's affirms Macrotech Developers' Caa1 rating azerbaijannews.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from azerbaijannews.net Daily Mail and Mail on Sunday newspapers.