Bloomberg News

Primary Health Said to Get Early Pledges for A$1 Billion Loan

October 04, 2011

Oct. 4 (Bloomberg) -- Primary Health Care Ltd., an Australian provider of medical tests, has received early commitments from two banks as it markets a A$1 billion ($952 million) loan, according to a person familiar with the matter.

The pledges from lenders have been received ahead of a deadline for commitments of mid to late October, the person said, asking not to be named as the details are private. National Australia Bank Ltd. is arranging the loan, which will be used to refinance existing debt, the person said.

Primary Health, based in Sydney, has A$1 billion of three- year loans due in December 2012, according to data compiled by Bloomberg.

“Primary is currently considering the opportunity to refinance well before maturity of debt in December 2012,” the company said in its annual report filed with the stock exchange on Sept. 19. “Primary has received strong interest from its existing syndicate to support this opportunity.”

--Editor: Katrina Nicholas

To contact the reporter on this story: Sarah McDonald in Sydney at smcdonald23@bloomberg.net.

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


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