Byju’s pleading to renegotiate its $1.2 billion debt amid battling with high losses

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Indian online education firm Byju’s is looking to renegotiate its $1.2 billion debt as it battles with high losses and cost-cutting targets. According to sources, the nation’s most valuable startup, valued at $22 billion, has recruited an adviser to explore changes to the term loan B covenants with creditors.

Byju’s prospered on India’s expanding mobile connections and foreign investment until its meteoric rise was cut short by excessive financial burn. Creditors are anxious about the company’s ability to repay, and several have sold down their loans, according to sources.