Daily News: November 5, 2013

Deutsche, Others Provide ChinaSoft Intl $100MM Financing

ChinaSoft International announced that it entered into an agreement with a group of institutional lenders, including Deutsche Bank AG and Mega International Commercial Bank, for an aggregate amount up to $100 million term loan facility for three years. The syndicated loan will bear interest at the rate of LIBOR + 2.95% per annum.

By securing this $100 million financing, the company will have obtained strategic expansion capital for M&A, especially in areas of next generation technology and cloud, as well as additional working capital for our existing business.

As part of its growth strategy set in 2011, ChinaSoft embraced the Professional, Outsourcing and Emerging (POE) structure, and will pursue growth in its traditional IT professional consulting & solutions business and outsourcing business, while pushing into innovative and emerging technologies, such as cloud computing and mobile communications.

Founded in 2000, ChinaSoft International Limited is a China-based comprehensive software and information services provider, ranging from end-to-end services of consulting, solution, outsourcing and talent training.