Santos secures AUS$1 billion loan
LNG Industry,
Santos has secured an additional 3-year, AUS$1 billion bilateral bank loan facility.
The new facility with ANZ Banking Group significantly enhances Santos’ liquidity profile and financial flexibility at attractive funding costs.
Santos Chief Financial Officer, Andrew Seaton, said that the facility further strengthens Santos’ conservative liquidity profile.
Seaton added: “This facility provides a substantial buffer over and above the company’s funding needs in the current uncertain oil price environment.”
Adapted from press release by Katie Woodward
Following Standard & Poor’s credit rating revision for Santos, the company has reduced its projected 2015 capital expenditure.
Santos has noted that Standard & Poor has revised its long-term senior unsecured credit rating for Santos from BBB+ to BBB.
Santos GLNG’s new figures show the project has provided over AU$ 11.6 billion to Australian businesses since January 2011.
Santos has announced record sales revenue of US$ 1.1 billion for the fourth quarter of 2013, driven by high oil production.