Fosun International, the Chinese conglomerate founded by billionaire Guo Guangchang, is tapping lenders for a euro-denominated loan to fund its acquisition of France’s Club Mediterranee Club Med, which operates luxury resorts in the Maldives and Phuket.
Credit Agricole, Natixis and Societe Generale are arranging the loan and seeking to syndicate the facility to a group of primary lenders.
According to a source familiar with the matter, the size of the facility is still to be determined and there will be two tranches, one with limited recourse to Fosun and the other with recourse only to Club Med’s operating assets.
The facilities will have tenors of about six to seven years and...
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