MakeMyTrip raises $200 mn through a zero per cent interest coupon bond

MMT intends to use the net proceeds for working capital and other general corporate purposes.

MakeMyTrip (MMT) on Friday said it raised $200 million through a zero per cent interest coupon bond. 

The raise comes at a time when the travel industry is in the midst of difficult times. “This raise will bolster our cash reserves allowing us to meet the working capital requirements as business recovery gathers momentum and also pursue any investment opportunities in the growing Indian market,” said Group Chief Financial Officer Mohit Kabra.

The notes offering was upsized from the previously announced offering of $175 million in aggregate principal amount of the notes. MMT has granted the initial purchasers of the notes a 30-day