China Fire plans new debt financing for purchase by Bain Capital

By Sara Rosenberg

New York, May 20 - China Fire & Security Group Inc. has received a debt commitment to help fund its buyout by Bain Capital Partners LLC and management, according to a news release.

Bank of America Merrill Lynch, Citigroup Global Markets Inc. and HSBC are the lead banks on the deal.

Under the agreement, Bain is purchasing China Fire for $9 per share in cash, for a total consideration of $265.5 million.

Closing is expected before Nov. 15, subject to stockholder approval and other customary conditions.

China Fire is a provider of industrial fire protection systems in China.

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