Melbourne, Oct 14 - Wesfarmers Ltd, owner of Australia's second-largest supermarket chain Coles, said it was confident it would be able to refinance a number of debt facilities due by the end of 2009, despite the credit crunch.
"We are very confident it will all be refinanced," Chief Executive Richard Goyder told a briefing, referring to existing facilities with banks, another A$1 billion ($700 million) of debt to be rolled over, and about A$1 billion in financing for its Coles acquisition due by December 2009.
Conglomerate Wesfarmers borrowed heavily to buy Coles last year for A$18 billion, in Australia's biggest takeover. ($1=A$1.43)