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Ramsay Health Said to Plan to Sign Loan With Banks This Week

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Nov. 21 (Bloomberg) -- Ramsay Health Care Ltd., Australia’s biggest operator of private hospitals, plans to sign loan facilities worth the equivalent of A$2 billion with banks this week, according to a person familiar with the matter.

The company plans to draw down the three- and five-year debt, denominated in Australian dollars, British pounds and euros, on May 1 next year, according to a Nov. 11 regulatory filing announcing the debt package. Australia & New Zealand Banking Group Ltd., National Australia Bank Ltd. and Westpac Banking Corp. arranged the loans and the new debt includes portions totaling A$1.2 billion, 260 million pounds and 300 million euros, according to the filing.

At least 11 banks, in addition to the three arranging banks, are lending the new debt, which refinances facilities signed in 2007 and due November 2012, the person said today.

Four Taiwanese banks that participated in the last facility aren’t participating in the new one, the person said. New lenders include Bank of Nova Scotia and Commonwealth Bank of Australia, the person said.

Ramsay operates 66 hospitals and day surgery units in Australia, admitting over 760,000 patients a year, according to its website. It operates 117 such facilities globally, including hospitals in the U.K., France and Indonesia.

To contact the reporter on this story: Katrina Nicholas in Singapore at knicholas2@bloomberg.net

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net

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