General Atlantic Service Company LP has secured a private credit loan from Ares Management Corp. and Nomura Holdings Inc. to finance its acquisition of a stake in Australian chicken chain El Jannah, according to people familiar with the matter.
The private equity giant has borrowed nearly A$300 million ($196 million) for the bid, combining the private credit loan with a revolving facility from Commonwealth Bank of Australia, said one source who requested anonymity as the matter is not public. The loan is leveraged at mid-to-high four times earnings, with a margin of about 500 basis points, the source added.
General Atlantic Secures Private Loan to Fund Chicken Chain Deal
