byjus: Byju’s, lenders agree to alter terms of $1.2 billion loan
Troubled edtech major Byju’s has reached a tentative agreement to rework its loan pact with lenders who collectively own more than 85% of the $1.2 billion Term B loan, people aware of the matter told ET. An announcement in this regard is expected early Monday.A Term Loan B (TLB) typically is aimed at generating long-term returns on investment through interest payment to investors while the borrower will get time to pay the principal amount only at the end of the tenure.The sources cited said that according to the new…