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Latham & Watkins Represents Ride-Hailing Company Ola in Term Loan B Transaction

January 6, 2022
A cross-border team advised on the US$500 million debt raise from marquee institutional investors.

Latham & Watkins represented Ola, India’s largest mobility platform and one of the world’s largest ride-hailing companies, in a US$500 million Term Loan B (TLB) debt financing from marquee international institutional investors. Ola is one of the first Indian startups to be publicly rated by Moody’s and S&P international rating agencies, and is among only a few Indian companies to raise capital through the TLB route.

Latham previously advised OYO, a leading Indian hospitality tech startup, on its TLB debt offering.

The Latham team was led by Singapore partner Timothy Hia, with associates Chuan Wei Kong, Wen Yi Tan, and Aakash Sardana. Additional advice was provided by Chicago associates John Reinert and Jennifer Tian; with advice on tax matters provided by New York partner Jiyeon Lee-Lim.