Home Inns arrangers hit holds, consider selldown
China’s Home Inns & Hotels Management has two commitments worth $45m for its $240m acquisition financing, which will be used to buy local rival Motel 168. Funding officials from the company met potential lenders on a roadshow last week, and the leads are deciding how much of the deal they want to sell down.
Credit Suisse and JP Morgan won the mandate for the deal, committing $40m each. But other banks quickly joined at the top level: Natixis came in with $35m, BNP Paribas, Crédit Agricole, Chinatrust and Shinhan Bank each committed $30m, and ICBC chipped in $5m.
Those eight banks then took
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