While everyone’s been watching the glut of RMBS and bank hybrids deals, superannuation grandee Aware Super’s quietly pulled off one of the year’s biggest syndicated loans.
National Australia Bank was named as arranger, sources said, while those in the syndicate included each of the big four Aussies - Commonwealth Bank of Australia, Westpac Banking Corp, ANZ Banking Group and National Australia Bank - along with Canada’s RBC, Credit Agricole, Mizuho, Mitsubishi UFJ Financial Group, Standard Chartered, Bank of China, and Industrial and Commercial Bank of China.
Sources in the syndicate said the raising was Aware Super’s fund-level, rather than for a new buyout. Instead, it was said to be for refinancing a bunch of Aware Super’s underlying investments or subsidiaries, ahead of the June 30 balance date.Bankers reckon it’s one of the biggest Australian debt deals this year - and banks were lured by the chance to tip into Aware Super, which is quickly becoming a significant player in Australian capital markets.