MIDDLETONS acted for the three mandated lead arrangers and underwriters for facilities to assist funding Wesfarmers Ltd’s $18 billion-plus scheme of arrangement acquisition of Coles Group Ltd.
The Wesfarmers financiers were ANZ, BNP Paribas and NAB. Partners Paul Sroka and Dina Glass advised on due diligence issues and negotiated the terms sheet and other commitment documents for the proposed corporate finance deal. The decision by Wesfarmers to acquire 100 per cent of the Coles Group Ltd meant the deal was restructured as a medium-term syndicated loan from a clubbed bridging facility.
The proposed underwritten $10 billion syndicated loan facility would be the largest single corporate finance deal in the Australian loan market.