Spotless seeks aggressive refi

摘要

Less than two years after Pacific Equity Partners' leveraged buyout in August 2012, Australia's spotless group is back for a debt refinancing at much better terms ahead of a planned A$1bn (US$935m) IPO. The strong performance of Spotless since the LBO and the lack of supply in the Australian loan market are allowing the services firm to cut the margins on its outstanding loans by a few percentage points. The new borrowing will tap the borrower's home market, unlike the facility it refinances - the US$1.08bn term loan raised in the US in September.