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DuluxGroup Hires Westpac for A$270 Million Alesco Buyout Loan

May 2 (Bloomberg) -- DuluxGroup Ltd., a maker and supplier of paints and other surface coatings, hired Westpac Banking Corp. to help organize a A$270 million loan, according to an e-mailed statement.

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.

Link to Company News:{DLX AU <Equity> CN <GO>} Link to Company News:{WBC AU <Equity> CN <GO>}

To contact the editor responsible for this story: Katrina Nicholas at knicholas2@bloomberg.net

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