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Allens advises banks on Ramsay Health Care refinancing

17 November 2011

Allens Arthur Robinson (Allens) has advised a syndicate of banks, led by ANZ, NAB and Westpac, on the refinancing of global private hospital group Ramsay Health Care Limited.

Established in Sydney in 1964, Ramsay operates 117 hospitals and day surgery facilities across Australia, the United Kingdom, France and Indonesia.

The new underwritten debt facility deal, which was completed on 10 November, is for A$2 billion (equivalent) and includes three tranches of three- and five-year facilities.

Partner Richard Gordon, who led the Allens team on the transaction, said that the deal reflects the strength of the healthcare sector.

'The healthcare sector is a strong market that is underpinned by the ageing population demographic and we expect there to be sustained long-term investment,' Mr Gordon said.

Employment figures released in May by the Australian Bureau of Statistics show that the health and social assistance sector has overtaken retail as Australia's biggest employment sector.

More than 450 per cent growth is forecast for the sector between now and 2050, as the over-85 population climbs from 400,000 people to about 1.8 million.

Allens legal team Richard Gordon (Partner – Sydney), Jo Folan (Senior Associate – Sydney), Thomas McAuliffe (Senior Associate – Sydney), Jana Latouche (Intermediate Legal Secretary – Sydney), Megan Catt (Legal Secretary – Sydney)

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Notes for editors.

Allens Arthur Robinson has staff in 14 cities and eight countries across the Asia Pacific.