Goodman Fielder's A$500 million forward start facility was launched on August 27 via bookrunners ANZ and National Australia Bank.
The three-year term loan pays a spread tied to a leverage grid. The margin starts at 340bp over BBSY if the leverage ratio is between 2.75 and 3 times steps up to 370bp if the ratio is over 3 times and steps down to 260bp when the leverage falls below 2.75 times.
Banks are invited to join on four tiers - mandated lead arrangers lending A$75 million or above receive 100bp in upfront fees, while co-arrangers providing A$51 million to $74 million get 75bp. Lead managers offering between A$25 million and A$50 million...