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Carlyle-backed Focus Media seals $1.4 bln loan ahead of Shanghai listing

Focus Media, which delisted from the Nasdaq in 2013 after being targeted by shortseller Muddy Waters, plans to debut in Shanghai within a year, with the expected listing size larger than the $1.4 billion loan, added Basis Point, a Thomson Reuters publication.

The company borrowed the funds from China Minsheng Banking Corp, DBS Bank and China Merchants Bank, Basis Point said.

Carlyle, FountainVest Partners, CITIC Capital Partners, China Everbright and Fosun International Ltd acquired Focus Media in May 2013 for $3.8 billion, in what was China’s biggest-ever leveraged buyout at the time.

Focus Media didn’t immediately respond to a Reuters email request for comment on the loan and IPO plans.

(Reporting by Prakash Chakravarti of IFR/Basis Point; Writing by Elzio Barreto; Editing by Prateek Chatterjee)