Focus Media Said to Ready China Listing With Loan Refinancing
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Focus Media Holding Ltd., the Chinese advertising company taken private in 2013, is moving closer to a domestic listing after refinancing a $1.275 billion loan, people with knowledge of the matter said.
The Shanghai-based company has drawn down a $1.4 billion club facility from China Merchants Bank Co., China Minsheng Banking Corp.’s Hong Kong arm and DBS Bank (Hong Kong) Ltd., according to the people. It has identified a company it will seek to use for a backdoor listing in China, they said, asking not to be identified as they aren’t authorized to speak publicly.