ABC Learning CentresÆ A$1.62 billion three-tranche debt package was launched into general syndication with a bank presentation held in Sydney on November 7 via lead arrangers ANZ, Commonwealth Bank of Australia, National Australia and Westpac.
The three bullet loan comprises a A$1.5 billion revolving cash advance facility, a A$60 million letter of credit facility and a A$60 million portion. The two A$60 million portions will not be syndicated with Westpac solely funding one portion and jointly providing the latter with Commonwealth Bank of Australia.
The loan may be drawn in Australian dollars, US dollars, Euro, Sterling and Canadian dollars.
Banks have until November 27 to respond. Proceeds are to refinance an existing...