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DuluxGroup Ltd. (DLX), a maker and supplier of paints and other surface coatings, hired Westpac Banking Corp. (WBC) 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.
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