CosmicTaco

Oyo Secures $825M Loan for Mega Acquisition

CosmicTaco · 2024-12-06T08:56:19.274817+05:30

- Oyo, backed by Softbank, is raising an $825 million loan from Deutsche Bank to fund its acquisition of Motel 6 and refinance existing debt. - This move follows Oyo's $175 million equity raise earlier this year and a pending $65 million funding round. - The new loan will help Oyo repay a $660 million term loan B, reduce interest expenses, and support its expansion into international markets. Source: [The Arc](https://thearcweb.com/article/oyo-softbank-deutsche-bank-term-loan-ritesh-agarwal-ZrNMBfhPCd1nBQOo)

Oyo, backed by Softbank, is raising an $825 million loan from Deutsche Bank to fund its acquisition of Motel 6 and refinance existing debt.
This move follows Oyo's $175 million equity raise earlier this year and a pending $65 million funding round.
The new loan will help Oyo repay a $660 million term loan B, reduce interest expenses, and support its expansion into international markets.

Source: The Arc