Byju's files suit challenging term loan acceleration, disqualify Redwood

Byju's filed a suit against investment management firm Redwood to challenge the acceleration of a $1.2 billion term loan B facility and disqualify the lender for its "predatory tactics," the company said on Tuesday. Byju's, which filed the suit in the New York Supreme Court, said Redwood purchased a significant portion of the loan while primarily trading in distressed debt, which was contrary to the conditions of the term loan facility.

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