Oyo Hotels is in talks with Apollo Global Management Inc to refinance a $660 million loan as the once-high-flying startup seeks more time to cut debt following a delay in its initial public offering, according to people with knowledge of the matter.
Oravel Stays Pvt, as Oyo’s parent company is known, is seeking to extend maturity to five years compared with the existing 2026 deadline, one of the people said, asking not to be named as the negotiations are private. A decision could be reached as early as next month, another person said.
