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HCP Global sounding out Taiwanese lenders for new loan after US miss
Cosmetics packaging company HCP Global, which pulled a US targeted loan of $380m in August, is now approaching Taiwanese lenders for another fundraising that will have the same use of proceeds as the stalled deal.
The purpose of the new fundraising will also be for dividend recapitalisation as well as refinancing. After taking the debt on its balance sheet, the company’s leverage multiple is likely to increase to 4.5x to 5x, said bankers.
HCP’s sponsor TPG Capital has approached relationship banks, including CTBC ...Already a subscriber? Login
