Focus Media bags US$1.4bn loan refi

摘要

Display advertising company focus media holding has completed a US$1.4bn loan to refinance existing debt ahead of a potential relisting. Unlike previous instances when a slew of lenders participated in Focus Media's loans, the latest one closed as a three-bank club mainly because the terms were aggressive to facilitate the company's relisting on the Shanghai Stock Exchange (see Equities). Another reason the loan closed as a club was that the company wanted to keep tight control of the process to ensure smooth and orderly preparations for the A-share listing .