Origin Energy extends bank loan facilities
Published by Callum O'Reilly,
Senior Editor
LNG Industry,
Origin Energy Ltd has announced the successful extension of AUS$4.5 billion of bank debt facilities maturing in December 2018 to a new five-year maturity of October 2021. The extension of these facilities was negotiated through a syndicate of domestic and international banks.
The existing limit of Origin’s bank debt facilities remains unchanged at AUS$7.4 billion, comprising AUS$2.9 billion maturing in December 2019 and AUS$4.51 billion maturing in October 2021. At present, Origin Energy holds AUS$6.6 billion of committed and undrawn debt facilities.
Origin said that the transaction improves its financial resilience through the extended maturity profile of its committed bank debt facilities. It also demonstrates ongoing support for the company by domestic and international banks.
The Bank of Tokyo-Mitsubishi, Commonwealth Bank of Australia, National Australia Bank and Westpac Bank acted as Coordinating Mandated Lead Arrangers and Bookrunners on the transaction.
Origin Energy holds a 37.5% stake in the Australia Pacific LNG (APLNG) project, which recently confirmed that it has produced the equivalent of a cargo of LNG from the second train at its LNG facility on Curtis Island near Gladstone, Queensland, Australia.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/14102016/origin-energy-extends-bank-loan-facilities/
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