Sina taps both onshore and offshore for take-private loan

By Pan Yue
13 Oct 2020

Sina Corp, a Chinese internet firm that owns social media platform Weibo, is seeking a $2.08bn borrowing from onshore and offshore borrowers. It plans to use the money to delist from the Nasdaq.

The loan is being split between a $832m offshore tranche arranged by China Minsheng Bank’s Hong Kong branch and a dollar-denominated onshore portion, a $1.248bn deal which is being managed by the same bank’s Shanghai branch.

The loan has a tenor of two years with two extension ...

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