eHi Car Services Announces up to $150M Loan Facilities

eHi Car Services Limited, a car rental and car services provider in China, has announced that it has entered into an up to $150 million syndicated loan facility agreement.

This loan facility agreement provides an up to $150 million credit line to eHi Car Services, including an initial facility of $110 million and a green-shoe facility of up to $40 million, which has received written commitments for a full subscription, according to the company.

The loan facilities have a three-year term and will be repaid in installments. The interest margin is priced at 350 basis points per annum over LIBOR.

Deutsche Bank AG, Singapore Branch is acting as the original mandated lead arranger of the loan facilities.

According to eHi Car Services, proceeds of the loan facilities will be used for repaying certain existing indebtedness with high interest rates, funding capital expenditures, and other general corporate purposes of the company.

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

The Customer Isn’t Always Right

Not caving to a customer with a blatant agenda may have consequences, especially for a small rental company that relies on stellar Yelp ratings to advertise. But business integrity must prevail.

The Truth Behind Compact Van Depreciation

Why are large van values holding up better than their compact counterparts, and will it last?

Car Rental’s Call to Action on Autonomous Vehicles

The car rental industry has built-in advantages to support a world with driverless cars, but it needs to take the next step in partnering with autonomous vehicle stakeholders.

Job Finder: Access Top Talent. Fill Key Positions.