Oyo Explores Refinancing $660 Million Loan Amid IPO Delay

Softbank-backed Oyo Hotels and Homes is currently in discussions with Apollo Management Inc to refinance a $660 million loan, as its initial public offering faces delays. The Indian hotel aggregator aims to extend the loan's maturity to five years, in contrast to the existing 2026 deadline.

 A decision on this matter may be reached as early as next month. Oyo had initially planned to go public in 2021 but has encountered repeated delays, leading to the departure of key executives as they work to reduce their debt burden.

 Earlier this year, it was reported that the company had submitted a confidential "pre-filing" document for a potentially scaled-down IPO.