Bloomberg News

Bain Said to Seek Loan Commitments for China Fire Acquisition

October 03, 2011

Oct. 3 (Bloomberg) -- Bain Capital LLC will seek commitments of $10 million to $20 million from banks as the $80 million loan backing its acquisition of China Fire & Security Group Inc. is marketed to other lenders, said a person familiar with the matter.

Bank of America Corp., Citigroup Inc. and HSBC Holdings Plc are arranging and underwriting the facility, which pays an all- in fee of about 555 basis points more than the London interbank offered rate, said the person.

Those banks may syndicate the loan to around six other lenders with Taiwanese banks a target, the person said. The financing is expected to be completed by the end of the year, the person said.

Amber Parent Ltd., an affiliate of funds managed by Bain, and Amber Mergerco Inc. is buying Nasdaq-listed China Fire & Security for $9 a share. The company’s shareholders voted on Sept. 23 to approve the merger.

--Editor: Katrina Nicholas

To contact the reporter on this story: Wendy Mock in Hong Kong at wmock3@bloomberg.net

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net


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