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Dairy Farm Syndicated Loan Facility Oversubscribed
The Facility, which represents Dairy Farm's first foray into the syndicated loans market, was well-received. Total commitments from general syndication, including those of the Coordinating Arrangers', exceeded US$385 million equivalent. Despite the oversubscription, Dairy Farm has decided to maintain the final Facility amount at US$385 million equivalent, comprising HK$2,000 million equivalent Tranche A (available in HK$ or US$) and A$200 million Tranche B (available in Australian dollars). Accordingly, the commitment amount of all participants in the Facility will be scaled back.
The final syndicate comprises 15 financial institutions from seven different nationalities spanning Europe, North America, Australia and Asia.
Signing of the Facility will be held on 22nd June 2000, Thursday.
Dairy Farm is a leading food and drugstore retailer in the Asia-Pacific Region. At the end of 1999, the Group and its associates operated 2,063 outlets, principally supermarkets, convenience stores and drugstores, employed some 80,000 people in nine territories and achieved 1999 sales of US$6.8 billion.
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For further information, please contact:
Dairy Farm Management Services Limited
Simon Mawson (852) 2299 1889 (office)
This and other Group announcements can be accessed through the Internet at "www/irasia.com/listco/sg/dfi".