LAWFUEL – The NZ & Australian Legal Newswire – Middletons has recently acted for the three mandated lead arrangers and underwriters for facilities to assist funding Wesfarmers Limited’s $18 billion plus scheme of arrangement acquisition of Coles Group Limited.
Led by partners Paul Sroka and Dina Glass, Middletons has been involved in advising ANZ, BNP Paribas and NAB on financier due diligence issues and negotiating the terms sheet and other commitment documents for the proposed corporate financing. Initially proposed as a clubbed bridging facility, the decision by Wesfarmers to acquire 100% of the Coles Group Limited meant the deal was restructured as a medium-term syndicated loan.
The proposed underwritten $10 billion Syndicated Loan Facility would be the largest single corporate financing in the Australian loan market.
