loan-week-november-28

Loan week, November 2-8

A roundup of the latest syndicated loan market news.
Australia

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 facility signed in June 2007.

Senior syndication of Carlyle Group and National HireÆs A$2.26 billion leveraged buy-out for the acquisition of Coates Hire is still progressing. The mandated lead arrangers are ABN AMRO (Australia Branch), ANZ, Calyon (Australia), Mizuho Corporate Bank, Sumitomo Mitsui Banking Corp and Westpac Banking Corp.

The six year facility is split into a A$2.025 billion term loan, a A$175 million capital expenditure portion and a A$60 million revolving working capital tranche.

The information memorandum was released yesterday (November 8) with bank presentations slated for Monday (November 12) in Sydney then in Hong Kong the day after. Senior syndication is targeted to close on November 28.

ComputershareÆs $600 million dual tranche fundraising has been signed on a club basis via ANZ, Bank of America, National Australia Bank and Royal Bank of Scotland.

The bullet deal is split into a $160 million one year financing and a $440 million three year credit.

Final allocations saw the lead arrangers providing $150 million each.

A$150 million revolver has been inked on a club basis for Macmahon Holdings via ANZ, Caterpillar Australia Finance and HSBC with each holding A$50 million.

Macquarie GroupÆs A$8 billion multi-tranche financing is closing this week, with allocations being finalised soon. ABN AMRO, ANZ, Barclays Capital Commonwealth Bank of Australia, Dresdner Kleinwort, HSBC, JP Morgan, Merrill Lynch, National Australia Bank, Royal Bank of Australia and Westpac are the mandated lead arrangers.

The facility comprises a A$1.6 billion 364-day credit, a A$2.4 billion three year revolver and a $4 billion three year term loan.

The loan is reported to be oversubscribed, and is expected to be signed next week.





























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