temasek-to-invest-in-australian-childcare-operator

Temasek to invest in Australian childcare operator

ABC Learning Centres will place A$401.5 million in new shares with a Temasek subsidiary, while also issuing A$600 million in convertible notes.
May 29, 2007
A rising star in AustraliaÆs corporate landscape, ABC Learning Centres has announced a A$1 billion $820 million financing package that includes a placement of new shares to Everitt Investments and a subordinated resettable convertible note programme. It is also renegotiating A$1.44 billion worth of existing bank facilities.

ABC Learning Centres and its charismatic chief executive Eddy Groves are credited with bringing corporate controls and discipline to the multi-billion dollar childcare industry. Since it listed on the Australian stock exchange in 2001, the company has expanded the number of childcare centres it runs from 43 to 2,305, with many of these in new markets like the UK and the US.

In announcing the financing package...
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