HONG KONG: Focus Media Holding Ltd, a Chinese display advertising company backed by Carlyle Group and other private equity firms, plans to return to the loan market with a recapitalisation plan of up to US$500mil, according to sources familiar with the matter.
As part of the deal, Focus will amend the terms of an existing loan that it completed shortly after Carlyle and four other buyers acquired the company in a record deal. The recapitalisation will add more debt onto Focus Media and allow the company to pay a dividend to its shareholders, the sources say. – Reuters
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