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In Apr 2020, Airbnb raised $1 billion in a debt-equity deal with two respected private equity firms: Silver Lake and Sixth Street Partners. Facing steep

In Apr 2020, Airbnb raised $1 billion in a debt-equity deal with two respected private equity firms: Silver Lake and Sixth Street Partners. Facing steep revenue losses due to the coronavirus, the travel platform badly needs capital and is willing to pay more than 10% interest per annum to get it.

Why did Airbnb decide to pay a high-interest rate on the bond?

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