Fosun readies euro loan for Club Med buyout

The Chinese conglomerate is expected to close syndication on dual tranche euro facility to fund its Club Med buyout early March.

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...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222