Spotless makes clean sweep with chunky loan and IPO
Australia’s Spotless Group Holding, an outsourcing, laundry and linen services provider, is set to borrow loans worth around A$840m ($778.8m) after the company closes its initial public offering of A$1bn.
Spotless is splitting the fundraising between a syndicated revolving facility and a bilateral loan.
The revolving facility is for A$637m and is denominated in Australian and New Zealand dollars.Facility ‘A’ is a A$424.2m three year, which can consist of up to A$324.9m and up to NZ$107m ($91.7m). Facility ...