China Construction Bank New Zealand contributes to AUD 64.35 million tranches of multi-tranche, multi-currency syndicated lending facility to Delegat Group for debt refinancing and working capital purposes (linked to Record ID#99900)

Project narrative

On December 7, 2021, a group of five banks -- including China Construction Bank New Zealand -- reached financial close on a multi-tranche, multi-currency lending facility valued at NZD 265 million and AUD 64.35 million with Delegat Group, a winemaker. The facility refinances the company's 2019 senior debt facilities, which are captured via Record ID#99898 and #99899. The facility has an unknown maturity and all tranches carry an unknown interest rate of BKBM/BBSY plus an unknown margin. The facility is securitized with the existing and future assets of Delegat Group Limited, Delegat Limited, Delegat Australia Pty Limited and Barossa Valley Estate Pty Limited. The facility consists of the following tranches: 1. An NZD 45 million working capital facility ("Working Capital Facility"). 2. An NZD 100 million multi-currency facility ("Multi-Currency Facility A"). The currencies of this tranche are unknown. 3. An NZD 100 million multi-currency facility ("Multi-Currency Facility B"). The currencies of this tranche are unknown. 4. An AUD 29.35 million term facility ("AUD Facility A"). 5. An AUD 35 million term facility ("AUD Facility B"). 6. An NZD 20 million term facility ("Headroom Facility"). The four tranches denominated primarily in NZD are captured via Record ID#99900. The two tranches denominated exclusively in AUD are captured via Record ID#99901. Other members of the syndicate are Westpac New Zealand Ltd., Westpac Banking Corporation, Bank of New Zealand Ltd. (BNZ), and Hong Kong and Shanghai Banking Corporation Ltd. (HSBC).