CORRECT: Inghams Loan Backing A$880m TPG Buyout Attracts Lenders

(Corrects to remove reference to lender in third bullet point) Inghams Enterprises Pty has received commitments from all 11 lenders invited to its early syndication of a A$748.4m loan backing TPG Capital’s purchase of the poultry producer, according to three people familiar with the situation. • Commitments were received on April 9, and allocations will be completed shortly • The deal attracted more commitments than the arrangers needed, the people said • New lenders are Mizuho, GE Capital, UOB, CBA, Rabobank, Challenger, SMBC, Massachusetts Mutual Life Insurance, ICG and Investec • Mizuho, GE, UOB, CBA, SMBC, Investec and Rabobank committed A$50m each, with Challenger A$75m, Massachusetts A$30m, and ICG A$10m; allocations are expected to be scaled back • The leveraged loan is part of A$775m of debt being used to finance the acquisition. That A$775m also includes about A$27m of existing facilities backed by the South Australian government, the people said • The facility is split in a A$440m bullet loan tranche A, a A$158m amortizing loan tranche B, and A$150m in revolving facilities and letters of credit • Borrower: Inghams Enterprises Pty • Amount: A$748.4m • Currency: AUD • Loan type: Term loan A; Term loan B; and revolving facilities • Tenor: 5 yr • Margin: Based on a leveraged grid, with margins ranging from 400 bps to 425 bps over the bank bill swap rate • Fees: 325bps for pledges of A$50m and above • Arranging Banks: Westpac, Macquarie, NAB, Nomura, Bank of America Merrill Lynch, ANZ and HSBC • Status: Syndication closing * Information from people familiar with the matter who asked not to be named as the details are private * NOTE: TPG is paying about A$880m for Inghams, two separate people said on March 11

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