Thomson Geer has advised McPherson’s Limited on its $60 million corporate bond offer, and the refinance of the McPherson’s group’s senior debt facilities.
The bond issue involved an offer of unrated corporate bonds to professional and sophisticated investors, and was fully subscribed across two tranches. The proceeds of the bond issue were used to assist in repaying part of the McPherson’s group’s existing senior debt.
McPherson’s is a leading supplier of health & beauty, consumer durable and household consumable products in Australasia, with operations in Australia, New Zealand and Asia. Managing Director Paul Maguire said the debt raising was “a great outcome for McPherson’s given the material extension in the tenure of its facilities and the utilisation of a new and evolving source of funding”.