Four banks have joined the A$995m ($739m) six year facility that supports the buy-out of the Myer department stores by Newbridge Capital. The leveraged buy-out will be Australia's largest, but is likely to be trumped by the upcoming disposal of waste management businesses by Brambles. The four to have committed so far are Calyon, Bayerische Hypo- und Vereinsbank, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp. Two other lenders, understood to be Rabobank and WestLB, are processing commitments.
June 09, 2006