Australian steelmaker BlueScope Steel has announced that it executed an AU$1.35 billion (US$1.35 billion) syndicated facility agreement on December 21.
A company release said that the facility comprises two equal AU$675m tranches with the three-year tranche maturing in December 2013 and the five-year tranche maturing in December 2015, replacing the current syndicated loan note facilities of AU$200 million and AU$1.075 billion, which are due to mature in July 2011 and July 2012, respectively.
Thirteen domestic and international banks from the existing bank syndicate are participating in the facility. The facility was managed by four mandated lead managers and book runners, namely Australia and New Zealand Banking Group Ltd, Commonwealth Bank of Australia, National Australia Bank Ltd and Westpac Banking Corporation.