Carlyle Group and National Hire Group Ltd. have agreed with lead managers to improve the terms on a AU$2.26 billion senior loan to fund the buyout of leading Australian rental company Coates Hire Ltd.

ABN Amro Australia, ANZ, Calyon, Mizuho Corporate Bank, Sumitomo Mitsui Banking Corp. and Westpac Banking recently said the financing’s original AU$2.025 billion six-year bullet term loan tranche A will be divided into two sub-tranches. The deal sill includes an AU$175 million amortizing capital expenditure tranche and an AU$60 million revolving credit tranch for working capital.