Bain Capital Credit and UBS Group AG are providing a combined AUD540m ($382m) loan to Australian healthcare equipment supplier Aidacare, according to a report by Bloomberg citing people familiar with the matter.
The six-year facility will reportedly be used to refinance existing debt and fund a dividend payment to Aidacare’s owner, Quadrant Private Equity. The financing carries a margin of around 500 basis points over the local Bank Bill Swap Bid Rate, with UBS expected to syndicate part of its commitment to other lenders.
Quadrant had previously explored a sale of Aidacare before opting to pursue refinancing instead, the Australian Financial Review reported earlier this year.
The transaction underscores the growing role of private credit in Australia, where private equity sponsors are increasingly turning to bespoke financing solutions to support shareholder distributions amid subdued exit activity. Australia has emerged as one of the most active private credit markets in Asia-Pacific, attracting global managers and supporting large-scale transactions.
