Udaan clinches restructuring deal as BlackRock lines up fresh private credit ahead of IPO
B2B ecommerce firm Udaan agreed a capital restructuring with shareholders and bondholders, with BlackRock providing $40-50M private credit to simplify its balance sheet. The move follows $170M defaulted notes and Rs 13,000 crore accumulated losses, and comes despite Singapore insolvency proceedings on its offshore entity.
B2B ecommerce firm Udaan agreed a capital restructuring with shareholders and bondholders, with BlackRock providing $40-50M private credit, simplifying its balance sheet ahead of a potential IPO despite Singapore insolvency proceedings on its offshore entity.