Wall Street Banks to Sell X Debt at a Discount
In 2022, Elon Musk made headlines when he acquired the social media platform X (formerly Twitter) ...
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Read moreByju's, an esteemed startup in India, is currently facing a significant setback following the withdrawal of creditors from discussions to restructure a loan amounting to $1.2 billion. Sources familiar with the matter reveal that these talks came to an end due to the creditors filing a lawsuit alleging that the company concealed $500 million in raised funds. To protect their anonymity, these individuals have requested to remain unnamed since the information discussed is private. Byju Raveendran, founder and chief executive officer As a result of the terminated discussions, lenders now possess the ability to sell Byju's term loan B securities since the limitations imposed during the negotiations have been lifted. Byju's has a deadline until June 5 to fulfill its obligation of paying the interest on the loan. Notably, during a court hearing in the US last month, an attorney representing the organization expressed confidence that the company would soon receive a substantial capital infusion, which would enable it to repay the loan. These statements contradict the allegations of fund concealment raised by the creditors. Steep losses and cost reduction targets ...
Read moreSoftBank Group CEO, Masayoshi Son, is facing personal responsibility for approximately $5.2 billion due to side ...
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