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Troubled edtech major Byjus has reached a tentative agreement to rework its loan pact with lenders who collectively own more than 85% of the $1.2 billion Term B loan, people aware of the matter told ET. An announcement in this regard is expected as early as Monday.
According to the sources cited in the report, Byju s and the group of lenders have agreed to work collaboratively toward a signed and completed term loan amendment by August 3, 2023.