Deutsche Bank said to refinance part of $350 million Oyo loan

Core Insights - Deutsche Bank AG has refinanced part of a $350 million loan originally extended by Mizuho Bank Ltd. to support Ritesh Agarwal's acquisition of shares in Oyo Hotels [1] - The refinancing involves a three-year bullet loan of approximately $150 million, easing Agarwal's financial pressure and allowing him to focus on the company's capital markets listing [1][3] - Oyo's parent company, now named Prism, is preparing for an IPO expected next year, potentially valuing the company between $7 billion and $8 billion [4] Company Developments - Ritesh Agarwal, in his early 30s, has received support from SoftBank Group Corp. founder Masayoshi Son for about a decade, although the company faced challenges that delayed its IPO plans [2] - Oyo has reported 14 consecutive quarters of positive adjusted earnings before interest, taxes, depreciation, and amortization, and is leveraging artificial intelligence for pricing and property management [5] - The company has undergone significant restructuring, retreating from certain markets and cutting costs, while serving over 100 million customers across 35 countries with various brands [6]