APAC Chart of the Week: 17th April
Around 431m loans -- all senior bank debt -- that part-funded buyout of Australian companies by private-equity firms is maturing this year.
The maturity wall of Australian PE-buyout loans is expected to rise to USD 2.72bn in 2021 and USD 3.37bn in2022. Senior bank debt accounts for 67.6% of the total in 2021 and 61.8% in2022, while the remainder comprises unitranche and Term Loan B (TLB) financings.
Volumes of loans that backed PEleveraged buyouts of Australian corporates have dropped 16.6% YoY to USD 1.58bnin 2020 to date.
As Debtwire reported on 9 April, opportunities in the private debt space, including in refinancings, recapitalization and distressed, are expected to emerge once the virus crisis is over.
Of the four PE LBOs completed in Australia so far in 2020, two were part-funded by unit branches – an AUD 460m (USD 305m) loan financing Quadrant Private Equity’s buyout of outdoor-advertising company QMS Media; and an AUD 180m (USD 121m) loan for Anchorage Capital Partners’ acquisition of locomotive and rolling-stock provider CF Asia Pacific Group.