Proceeds will be used to finance DuluxGroup’s all-cash offer to acquire the shares it doesn’t already own in Alesco Corp., an Australian garage door maker.
The loan will be split into a A$220 million three-year revolving credit facility and a A$50 million 18-month bridge facility, according to the statement. Westpac is marketing the A$220 million facility to other banks in syndication.
DuluxGroup’s brands include Dulux, Selleys, British Paints and Dynamic Lifter.
To contact the editor responsible for this story: Katrina Nicholas at firstname.lastname@example.org