The successful execution of the loan amendment would “immediately” solve the loan’s acceleration and end all open litigation and avoid further enforcement actions.

• Byju’s and creditors working on $1.2B loan amendment
• Loan amendment likely to resolve Byju’s acceleration and litigation issues
• Edtech startup Byju’s and creditors in agreement for loan terms

India’s Byju’s and its lenders, who own more than 85% of the edtech startup’s $1.2 billion term loan, have agreed to work towards amending that loan by Aug. 3, the steering committee of the creditors group said on Monday.

The successful execution of the loan amendment would “immediately” solve the loan’s acceleration and end all open litigation and avoid further enforcement actions, the steering committee said in a statement.