SHANGHAI, Dec. 7, 2018 /PRNewswire/ -- eHi Car Services
Limited ("eHi" or the "Company") (NYSE: EHIC), a leading car
rental and car services provider in
China, today announced that the
Company has entered into a US$195
million syndicated loan facility agreement.
This loan facility agreement provides a US$195 million credit line to the Company,
including an initial facility of US$180
million and a greenshoe facility of US$15 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 up to and
including the date falling 12 months after the first utilization
date and 400 basis point per annum after the date falling 12 months
after the first utilization date. 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 the amounts outstanding
pursuant to the Company's senior unsecured notes due December 2018 and other general corporate
purposes of the Company.
About eHi Car Services Limited
eHi Car Services Limited (NYSE: EHIC) is a leading car rental
and car services provider in China. 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. 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
E-Mail: ir@ehic.com.cn
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SOURCE eHi Car Services Limited