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China Travel Said to Seek Club Loan to Refinance Debt Due 2012

Dec. 21 (Bloomberg) -- China Travel Service Holdings Ltd. is seeking a club loan to refinance debt maturing in the first half of next year, said two people familiar with the matter, who asked not to be identified as the details are private.

China Travel signed a HK$2.2 billion five-year loan in 2007 to mature in May 2012 that pays a margin of 36 basis points over the Hong Kong interbank offered rate, according to data compiled by Bloomberg. A club loan is not marketed to additional lenders in syndication.

To contact the reporter on this story: Wendy Mock in Hong Kong at wmock3@bloomberg.net

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net

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