Edtech startup Byjus raises $1.2 million in term loan
Byju’s, India’s most valued privately held startup, has received $1.2 billion in a term loan from the international market. According to sources familiar with the matter, the edtech business, valued at $18 billion, had originally expected to raise $700 million, but the round was increased in size. According to the sources, the company has taken advantage of the interest rate arbitrage available in worldwide markets, which has resulted in record low rates. Byju’s raised financing at Libor + 550 basis points, which is significantly cheaper than what is available in…