PRC hotel chain issues convertible senior notes
January 12, 2011 | BY
clpstaff &clp articlesHome Inns & Hotels Management (Home Inns) has closed a US$184 million offering of convertible senior notes. The notes were offered to qualified institutional…
Home Inns & Hotels Management (Home Inns) has closed a US$184 million offering of convertible senior notes. The notes were offered to qualified institutional buyers pursuant to Rule 144A under the US Securities Act, and to investors outside of the US in compliance with Regulation S under the Securities Act.
Listed on the Nasdaq, the issuer is China's leading economy hotel chain. The initial purchasers were Credit Suisse Securities and JP Morgan Securities.
US counsel to Home Inns was Skadden Arps Slate Meagher & Flom and Simpson Thacher & Bartlett represented the initial purchasers. Maples and Calder advised on Cayman Islands law.
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