UPDATE 1-Lion Nathan secures A$450 mln of new debt

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SYDNEY, Jan 30 (Reuters) - Brewer Lion Nathan Ltd (LNN.AX)
said on Wednesday it has secured A$450 million ($402 million)
of new debt facilities to refinance debt and for expansion.

The new funding has a weighted average maturity of 4.3
years with three-, four- and five-year tranches.

Westpac Banking Corp, ANZ Banking Group, Bank of Tokyo
Mitsubishi, TD Securities, BNP Paribas, Commonwealth Bank of
Australia and nabCapital joined the self-arranged facility, a
market source said.

The debt facility consisted of a series of bilateral loans
with a common term sheet but separate pricing, the source said.

The three-year tranche paid a margin of around 65 to 70
basis points over BBSY based on Lion Nathan's BBB- rating by
S&P, he added.

The new transaction will help refinance a 12-month bridging
facility signed in 2007 to fund the acquisition of brewer J.
Boag & Son Ltd. It will also help pay a A$60 million U.S.
private placement issue maturing in February and provide
working capital.

The company said it has no further debt maturities until
December 2008.
($1=A$1.12)
(Reporting by Sharon Klyne and Cecile Lefort)