Focus lev loan faces another hurdle as shareholder group files suit, syndication still going strong

15 Mar 2013

Focus Media Holding’s $1.525bn leveraged loan is reaching the end game, after its bookrunners received eight chunky commitments in senior syndication. But several shareholders in the company are trying to derail the part-management buyout at the last minute, after raising questions about the valuation, writes Rashmi Kumar.

The Chinese digital media company has gathered commitments worth $410m so far, and one more bank looks likely to commit before the deal wraps up on Friday (March 15), said a banker working on the loan. There has already been enough demand that general syndication now seems pointless, ...

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