RateGain Travel Technologies Limited’s wholly-owned step-down subsidiary, Sojern, Inc., has received an offer letter for a credit facility amounting to USD 40 million. This facility, proposed by J.P. Morgan Chase Bank, N.A., is intended for general corporate purposes. RateGain has issued a corporate guarantee for this credit line, which is structured as a secured loan. The company does not foresee any adverse impact from this guarantee, as Sojern’s financials are consolidated.
Sojern Inc. Secures Major Credit Facility
RateGain Travel Technologies Limited has announced that its wholly-owned step-down subsidiary, Sojern, Inc., has received an offer letter from J.P. Morgan Chase Bank, N.A. for a credit facility. This facility is for an aggregate maximum amount of up to USD 40 million and is intended for general corporate purposes. The offer letter was dated August 18, 2026.
Details of the Credit Facility
The credit facility is structured as a secured loan. The total amount of the loan granted is USD 40 million, with a current outstanding amount of NIL. The loan agreement is expected to be executed on August 19, 2026. Details regarding the interest rate, repayment terms, and security are as fully described in the offer letter.
Corporate Guarantee Issued
In connection with this credit facility, RateGain Travel Technologies Limited has issued a corporate guarantee. This guarantee is for an amount of US$ 44 million in favour of J.P. Morgan, securing the credit facility availed by Sojern Inc. The company states that the corporate guarantee has been issued on an arm’s length basis and in compliance with applicable regulations. RateGain does not foresee any adverse impact from this guarantee, as Sojern Inc.’s financials are consolidated with the parent company.
Transaction Overview
The parties involved in the credit facility agreement are J.P. Morgan Chase Bank, N.A. as the lender and Sojern, Inc. as the borrower. There is no existing shareholding between RateGain and J.P. Morgan. The promoters, promoter group, and group companies of RateGain do not have any interest in this transaction, and it is conducted at an arm’s length basis.
Source: BSE
