7 Days syndication back on after delay

26 Mar 2013

Chinese hotel chain 7 Days Group Holdings had been planning to launch its $120m five year loan into senior syndication early last week, but after hitting what bankers said were a few admin hiccups, the deal was delayed. But the leads are now planning to push ahead with the deal before they leave for the Easter holidays.

The bookrunners say they have already drummed up plenty of demand, although no banks have yet made firm commitments. Four banks have already made ‘close-to-firm’ commitments to join as mandated lead arrangers, said a banker familiar with the deal, and at least four more are considering the loan. ...

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