Byju’s is set to raise USD 1.2 billion debt through Term Loan B, as per its filings reported by Bloomberg.

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Byju's will be the second of the unicorns in India to raise debt through this route after Oyo.

In July this year, Oyo raised a Term Loan B funding of USD 660 million from global institutional investors, essentially debt financing taken from institutional investors.

Byju's will now be independently assessed by the leading credit rating agencies such as Moody’s and Fitch.

Byju's has said it will use the funding for general corporate purposes. The company did not have comments till the time of filing this story.

Byju's touched USD 16.5 BN valuation in June post a fund raise of Rs 2,494 crore.

The company has raised nearly USD 2 billion since the pandemic and has made big-ticket acquisitions.

(Edited by : Priyanka Deshpande)

First Published:Nov 8, 2021 2:41 PM IST