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Australia's Computershare using debt for UK buy

Wed Aug 13, 2008 4:28am EDT

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SYDNEY, Aug 13 (Reuters) - Computershare Ltd (CPU.AX), the world's biggest share registrar, said on Wednesday it has financed its 90 million pound ($171.1 million) acquisition of UK-based Busy Bees Childcare Vouchers Ltd with debt.

The debt was drawn via a $235 million bond issue sold in the traditional U.S. private placement market in July and syndicated loans.

The U.S. notes, arranged by Royal Bank of Scotland, paid 220 basis points over U.S. Treasury for a 10-year term.

Computershare said overall it holds $1.3 billion in debt, of which $905 million has already been drawn down.

The company acquired Busy Bees from troubled Australian childcare centre operator A.B.C. Learning Centres ABS.AX. ($1=.5259 Pound) (Reporting by Cecile Lefort, editing by James Regan)



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