Bingo to launch A$925 million equivalent of term loans on Thursday

By Sara Rosenberg

New York, June 23 – Bingo Industries is set to hold a lender call at 1 p.m. ET on Thursday to launch A$925 million equivalent of term loans, according to a market source.

There will also be a question-and-answer session at 11:30 a.m. ET on Monday.

Goldman Sachs, Credit Suisse and Jefferies LLC are the lead arrangers on the deal.

The debt is split between an A$825 million equivalent (about $639 million) first-lien term loan and a A$100 million equivalent (about $77 million) delayed-draw term loan, the source said.

There will be a minimum roughly $450 million tranche split pro rata across the funded and delayed-draw term loans.

Proceeds will be used with equity to fund the acquisition of the company by Macquarie Infrastructure and Real Assets for either A$3.45 cash per share, or a mixed cash and unlisted scrip alternative.

Bingo is a fully integrated recycling company with operations in Australia’s two largest waste markets: New South Wales (Sydney) and Victoria (Melbourne).

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