Oyo's efforts to raise $600 million via debt to help its listing plan

Hospitality firm Oyo's latest efforts to raise $600 million via debt, which Moody’s rated as B3 corportae family rating (CFR), will, many believe, aid the company's future plans of listing.

Oyo’s  term loan B (TLB) is a way for it to get close to institutional investors before its initial public offering (IPO), similar to other firms like Grab that raised debt similarly, said people in the know.

The company said $600 million in a TLB structure will service its existing loans, which are on higher interest rates.