By Prakash Chakravarti and Chien Mi Wong
HONG KONG, Aug 31 (LPC) – The rejection of a US$17.6bn bid for fast-food team Yum Asia Holdings has dealt a blow to Asia’s leveraged finance market, which have been eyeing a huge payday from Asia’s biggest personal equity buyout.
Yum Asia the other day rejected a mooted offer of US$46 a share from the consortium led by Chinese investment company Hillhouse Capital Group. an official bid would have respected this new York listed operator of KFC, Pizza Hut and Taco Bell brands in Asia at 13x Ebitda.
Loan providers had been considering supplying as much as US$8bn of financial obligation, including a senior loan of approximately https://personalbadcreditloans.net/reviews/avant-loans-review/ US$6.5bnвЂ“$7.0bn and a mezzanine funding of US$1.0bnвЂ“$1.5bn, even though Hillhouse consortium hadn’t mandated any banking institutions. 继续阅读