From Home Furnishing Business
Bain Capital, Oaktree Capital Explore IPO for International Market Centers
Bain Capital and Oaktree Capital Group are looking to an initial public offering for International Market Centers, the owner of the Las Vegas Market and numerous prime showroom buildings in High Point, according to the Wall Street Journal.
Bain Capital LLC and Oaktree Capital Group LLC are exploring an initial public offering for International Market Centers LP, which rents out showroom space to home furniture and décor companies, according to sources familiar with the matter.
IMC is working with banks including J.P. Morgan Chase & Co., Deutsche Bank AG, Credit Suisse Group AG, and Barclays PLC on the IPO, the people familiar with the matter said. The listing, which could come later this year or early next year, may give the Las Vegas-based company a stock-market value of more than $1 billion, some of the people said.
IMC is seeking to raise $530 million in loans to refinance existing debt and provide working capital to the company, according to marketing documents reviewed by the Wall Street Journal. Some of the loans have a special provision allowing them to be repaid in full if the company completes an IPO.
Read Entire Story Source: The Wall Street Journal