Advent Seeks Around $300 Million Loan for Ginko China Takeover
- Chinese yuan loan could have a tenor of five to seven years
- Loan comes amid busy period for LBO financings in Asia Pacific
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Buyout firm Advent International is seeking an around $300 million equivalent loan to back its purchase of contact lens maker Ginko International’s China operations, according to people familiar with the matter.
The leveraged buyout loan, which will be denominated in Chinese yuan, could carry a tenor of five to seven years, said the people, who asked not to be identified discussing private matters. The proceeds will be used for offshore expenses related to Advent’s acquisition of Ginko’s mainland Chinese business, the people said.