China’s Home Inns & Hotels Management has got 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 now 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 all committed $30m, and ICBC chipped in $5m.
Those eight banks then took