Byju’s lenders open to negotiations, will act collectively on disputed $1.2 billion term loan

As the battle between embattled edtech major Byju’s and the lenders of its $1.2 billion term loan B (TLB) intensifies, the creditors have made it clear that they want the company to send a draft loan amendment proposal. On Monday, a scheduled call between both parties was cancelled, people familiar with the matter told ET.

While the lenders remain open to negotiations, they have rejected the edtech’s proposal for one-on-one meetings, said the people cited above.

The lender group had signed a cooperation agreement earlier that requires it to act in concert in dealings with Byju’s, a source said.