Huazhu seeks loan covenant waiver on Covid-19 impact

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By Pan Yue
16 Apr 2020

Chinese hotel company Huazhu Group, previously known as China Lodging Group, is asking lenders’ consent to waive some of the financial covenants on a recent syndicated loan.

The loan in question is a $1bn dual-tranche deal sealed in February. That facility was split into a term loan tranche of €440m and a revolving credit facility of $500m, with tenors of three years for both portions.

Huazhu is asking lenders’ consent to cancel two ...

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