KEY POINTS:
Carter Holt Harvey is seeking to borrow more than $2 billion to pay dividends to its owner, Graeme Hart.
The company hired Credit Suisse Group to arrange a loan for longer than one year, said a source.
Other lenders are being invited to join the facility.
Hart completed his $3.3 billion purchase of Carter Holt in March. The takeover allowed him to sell Carter Holt's assets to restore profits.
Credit Suisse arranged a record $3.42 billion loan to Hart's Rank Group in September last year to fund the purchase of Carter Holt.
In September, CVC Asia Pacific, owned by London-based CVC Capital Partners and New York-based Citigroup, agreed to buy 85 per cent of Plantation Timber Products Group from Carter Holt.
Carter Holt is also selling 275,000ha of land and trees as Hart seeks to focus more on profitable parts of the company.
Hart built his fortune by boosting earnings at underperforming businesses such as Australian food maker Burns Philp.
- BLOOMBERG
