OYO Raises $660 Million Term Loan Funding To Repay Past Debts

Hospitality company Oyo Hotels and Homes raised debt funding of $660 million from global institutional investors through the term loan funding (TLB) route, according to a statement released by the firm. The Gurugram-based unicorn will utilise the funds to repay its past debts, strengthen its balance sheet, and other business purposes including investment in product technology, in a bid to revive its COVID-hit business.