Byju's seeks more time from lenders to renegotiate $1.2 billion debt

Byju's is scrambling to appease creditors and investors already concerned about mounting losses at the once high-flying startup

Byju’s, the world’s most valuable edtech startup, has sought more time from creditors to renegotiate an agreement governing a $1.2 billion loan that is in breach of covenants, according to people with knowledge of the matter.

The creditors have until Tuesday to sign a forbearance agreement, which will give the company time till Feb. 10 to negotiate broader terms on the term loan, the people said, asking not to be identified as the information isn’t public. Byju’s hadn’t met the deadline to disclose financial results for the year ended March 31, they said.

Byju’s is scrambling to appease creditors and investors already