Hillhouse Seeks to Refinance Mattress Maker’s $800 Million Loan

Hillhouse Investment is in talks with banks to refinance an $800 million loan that backed its acquisition of Chinese mattress maker AI Dream, according to people familiar with the matter.

The Asia-based asset manager is seeking to raise around $800 million in US dollars or the Chinese yuan, or a combination of the two, said the people, who asked not to be named discussing private matters. The new loan could carry a tenor of around five to seven years, the people added.

Discussions with potential financiers are ongoing and the deal’s details could be subject to change, the people ...