30/10/2008 - 15:20

Wesfarmers sets up $6bn facility

30/10/2008 - 15:20

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Wesfarmers Ltd has taken steps to allow it to access capital from international markets with the establishment of a near $6 billion Euro Medium Term Note program.

Wesfarmers sets up $6bn facility

Wesfarmers Ltd has taken steps to allow it to access capital from international markets with the establishment of a near $6 billion Euro Medium Term Note program.

The Perth-based diversified stock said it had signed documentation for the €3 billion program with ABN Amro, Deutsche Bank, Societe Generale Corporate & Investment and BNP Paribas, which has been appointed as arranger.

"The programme documentation has been put in place so that Wesfarmers will be readily able to access funding in medium-term international debt markets as and when conditions in these markets improve," Wesfarmers said.

"At this time, Wesfarmers has not issued notes under the EMTN programme."

The company said it had received in-principle approval from the Singapore Exchange to list any notes that may be issued under the program on the local market.

In its Offering Circular to the Singapore exchange, Wesfarmers said that under the program, it may from time to time issue notes denominated in any currency agreed

Notes under the program will not be offered for sale in Australia and no shareholder approval is required for the issue of the notes.

 

Below is the announcement:

 

Wesfarmers has signed documentation for establishment of a Euro Medium Term Note ("EMTN") programme.

The programme documentation has been put in place so that Wesfarmers will be readily able to access funding in medium-term international debt markets as and when conditions in these markets improve. At this time, Wesfarmers has not issued notes under the EMTN programme.

Wesfarmers has received in-principle approval from the Singapore Exchange to list any notes that may be issued under the EMTN programme with the Singapore Exchange. In connection with this approval, Wesfarmers today lodged the following Offering Circular with the Singapore Exchange.

BNP Paribas has been appointed as arranger of the EMTN Programme and each of ABN AMRO, BNP Paribas, Deutsche Bank and Société Générale Corporate & Investment Banking have been appointed as dealers.

Notes will not be offered for sale in Australia and no shareholder approval is required for the issue of the notes.

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