Oct. 25 (Bloomberg) -- Banks that provided a A$1.95 billion ($2 billion) loan facility to Seven West Media Ltd., owner of Australia’s top-rating television network, will seek to market the debt to other lenders next month, according to a person familiar with the matter.
The banks are planning to begin the targeted syndication in mid-November and will seek to complete the process by Christmas, the person said, asking not to be named as the details are private.
The loan facility includes three-, four- and five-year tranches totaling A$1.95 billion, according to a regulatory filing by Seven West on Oct. 18. The company will also have available A$125 million of revolving working capital that can be accessed for general corporate purposes.
Australia & New Zealand Banking Group Ltd., BOS International Australia Ltd., Commonwealth Bank of Australia, Goldman Sachs Group Inc., Mizuho Corporate Bank Ltd., National Australia Bank Ltd., Sumitomo Mitsui Banking Corp., UBS AG and Westpac Banking Corp. were mandated lead arrangers and bookrunners on the facility, according to the filing. Bank of America Corp., Barclays Plc and JPMorgan Chase & Co. joined the facility as mandated lead arrangers.
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