SHANGHAI, Sept. 1, 2016 /PRNewswire/ -- eHi Car Services
Limited ("eHi" or the "Company") (NYSE: EHIC), a leading car
rentals and car services provider in China, today announced that the Company has
entered into an up to US$150 million
syndicated loan facility agreement.
This loan facility agreement provides an up to US$150 million credit line to the Company,
including an initial facility of US$110
million and a greenshoe facility of up to US$40 million, which has received written
commitments for a full subscription. 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. The 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.
About eHi Car Services Limited
eHi Car Services Limited (NYSE: EHIC) is China's No. 1 car services provider and No. 2
car rentals provider in terms of market share by revenues in 2013,
according to Frost & Sullivan. The Company's mission is to
provide comprehensive mobility solutions as an alternative to car
ownership by best utilizing existing resources and sharing economy
to create optimal value. eHi distinguishes itself in China's fast-growing car rental and car
services market through its complementary business model,
customer-centric corporate culture, broad geographic coverage,
efficient fleet management, leading brand name, and commitment to
technological innovation. eHi is the exclusive strategic partner in
China of Enterprise, the largest
car rental company in the world, and is the designated and
preferred business partner of Ctrip, a leader in the online travel
agency industry in China. For more
information regarding eHi, please visit http://en.1hai.cn.
Safe Harbor Statement
This press release contains forward-looking statements made
under the "safe harbor" provisions of Section 21E of the Securities
Exchange Act of 1934, as amended, and the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expects,"
"anticipates," "future," "intends," "plans," "believes,"
"estimates," "confident" and similar statements. eHi may also make
written or oral forward-looking statements in its reports filed
with or furnished to the SEC, in its annual report to shareholders,
in press releases and other written materials and in oral
statements made by its officers, directors or employees to third
parties. Any statements that are not historical facts, including
statements about eHi's beliefs and expectations, are
forward-looking statements that involve factors, risks and
uncertainties that could cause actual results to differ materially
from those in the forward-looking statements. Further information
regarding the risks, uncertainties or factors is included in the
Company's filings with the SEC. All information provided in this
press release is current as of the date of the press release, and
eHi does not undertake any obligation to update such information,
except as required under applicable law.
For investor and media inquiries, please contact:
eHi Car Services Limited
Tel: +86 (21) 6468-7000 ext. 8742
E-mail: ir@ehic.com.cn
The Piacente Group, Inc.
Mr. Don Markley
Tel: +1-212-481-2050
E-mail: ehi@thepiacentegroup.com
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SOURCE eHi Car Services Limited