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Southeast Asian Fintech Grab Decides to Increase its Term Loan Facility to $2 Billion due to Growing Investor Demand
Southeast Asian Fintech firm
Grab has decided to upsize its term loan facility to $2 billion due to growing interest from new investors.
Grab, which is one of Southeast Asia’s largest “Super App” providers, confirmed the successful closing of its first senior secured term loan facility, after commitments were made by global institutional investors.
The term loan facility should assist Grab with improving its liquidity and will also help diversify its funding sources. As noted in the announcement, the facility has been structured as a 5-year term loan B with a $2 billion principal. Grab’s management stated that this is the largest term loan B facility (to date) in Asia’s tech industry.
Published on: Sunday, January 31, 2021
By: Assif Shameen
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FEW could have predicted the disruption wrought by the coronavirus in 2020. Indeed, when the virus first began to engulf the world last March, nobody was bold enough to forecast how the pandemic was about to become an accelerant for technologies and tech firms around the world.
Crises tend to have a transformative effect on societies. Covid-19 merely helped accelerate changes that were already in the making from the rise and rise of e-commerce platforms such as Amazon.com, grocery delivery services such as DoorDash as well as digital payment platforms such as Square’s Cash App, PayPal’s Venmo and digital or telehealth providers such as Teladoc Health.
Egyptian fintech in 2021: The journey ahead [Part Two]
Image courtesy of Shutterstock
In the second part series, Michel Assaad, vice president of Europe, Middle East and Africa strategy at Citi Bank, outlines the trends that have emerged in Egypt s financial technology (fintech) space over the past year. The views expressed below belong solely to him and not his employer.
The past 10 months have been eventful, exhausting and sometimes painful. With vaccines being rolled-out, there is finally hope and a tentative timeline to get on a bumpy road to recovery.
Regardless of the timing of the recovery, 2021 will be exciting and lively for Egyptian fintechs. In addition to the trends outlined in the first part of this feature which will continue to drive most of fintech activity in 2021, there are a few other areas that I will be following closely:
FEW could have predicted the disruption wrought by the coronavirus in 2020. Indeed, when the virus first began to engulf the world last March, nobody was bold enough to forecast how the pandemic was about to become an accelerant for technologies and tech firms around the world.
Crises tend to have a transformative effect on societies. Covid-19 merely helped accelerate changes that were already in the making from the rise and rise of e-commerce platforms such as Amazon.com, grocery delivery services such as DoorDash as well as digital payment platforms such as Square’s Cash App, PayPal’s Venmo and digital or telehealth providers such as Teladoc Health.
Asian Fintech Grab May Pursue US IPO
Southeast Asian Fintech
Grab may pursue an initial public offering (IPO) during 2021, according to a report.
Fintech is expected to be a hot sector for initial public offers this year with two already being completed. Last week,
Affirm (NASDAQ:AFRM) blew the doors off its IPO. Priced at $49 a share Affirm traded at nearly double ending the day at $97.24 a share. Affirm has traded as high as $137+ a share.
Just prior to Affirm, fast-growing Fintech
SoFi announced it would become public via a SPAC (special purpose acquisition company) – a popular path to trading shares on an exchange that requires less initial disclosure. The SPAC deal was reported to be valued at $8.65 billion.