Wanda Nears Deal for Loan Facility to Pay Pre-IPO Investors
- Chinese banks commit to credit line of over $1.4 billion
- Some investors in Wanda unit look to sell shares and exit
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Dalian Wanda Commercial Management Group Co. told some investors this week that a loan that could be used to pay some pre-IPO investors in one of its units is close to being finalized, according to people familiar with the matter.
The property management company told the investors that several banks, including Shanghai Pudong Development Bank Co., have committed to a combined amount of more than 10 billion yuan ($1.4 billion) of loans, the people said, citing private conversations.