Narayana Hires Barclays to Arrange $169 Million Buyout Loan

India’s education-focused Narayana Group has mandated Barclays Plc as the sole arranger of a loan worth around 14 billion rupees ($169 million) to buy out minority shareholders in unit Nspira Management Services Pvt., according to people familiar with the matter.

The minority shareholders are Morgan Stanley Private Equity, which holds a stake of around 19% in Nspira, and BanyanTree Finance Pvt. that owns less than 5%, said the people who requested anonymity discussing private matters.

The loan is still open for subscription, the people said. Banks and private credit funds are among current participants, according to one of the people. ...