19/12/2021 10:05 AM | Click to read full article
Ride-hailing platform Ola has raised $500 million debt from marquee international institutional investors.
The company has raised the amount via Term Loan B (TLB). Institutional investors that seek higher yields and can stay invested over longer investment horizons compared to traditional banks offering such loans. TLBs usually have a floating interest rate with tenures of 5-7 years.