The firm assisted the Singapore Post subsidiary on a $330m financing transaction
MinterEllison has assisted Singapore Post Limited subsidiary Freight Management Holdings (FMH) on a $330m financing related to its acquisition of Australian pallet and parcel distribution operator Border Express.
The acquisition involved purchasing all of the Border Express Group’s shares, with FMH arranging the financing through Australia and New Zealand Banking Group Limited, Westpac Banking Corporation, and MUFG Bank, Ltd. This financial arrangement was not only for the acquisition but served to refinance the current debt of both the FMH Group and the Border Express Group.
Partner Geoff Earl, special counsel Leigh Schulz, and associate Dominic Puri from MinterEllison’s finance solution team guided FMH on all aspects of the financing for the acquisition. The team drafted and negotiated the complete set of finance and security documents, in addition to preparing the initial term sheet for the financing.
FMH was established in 2000 and is the largest fourth-party logistics provider in Australia and New Zealand, the firm said. It offers supply chain and management solutions.
