Deals
Hillhouse Seeks to Refinance Mattress Maker’s $800 Million Loan
- Funds refinance a 2021 loan backing firm’s buyout of AI Dream
- AI Dream makes mattresses for Serta, King Koil brands in China
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Hillhouse Investment is in talks with banks to refinance an $800 million loan that backed its acquisition of Chinese mattress maker AI Dream, according to people familiar with the matter.
The Asia-based asset manager is seeking to raise around $800 million in US dollars or the Chinese yuan, or a combination of the two, said the people, who asked not to be named discussing private matters. The new loan could carry a tenor of around five to seven years, the people added.