PERTH (miningweekly.com) – Energy major Origin Energy has executed a A$2.4-billion syndicated bank loan facility to refinance its existing facilities maturing in 2013 and 2014.
“Origin continues to receive strong support from both domestic and international financial institutions, as evidence by the significant level of demand from lenders,” said executive director for finance and strategy, Karen Moses.
Moses noted that along with the €500-million seven-year medium-term notes issue, the new bank loan facility removed Origin’s requirements for refinancing until the 2015 financial year.
Origin Energy is one of the project partners for the A$23-billion Australia Pacific liquefied natural gas project. The two-train project, in Queensland, would have a nine-million-ton-a-year capacity and was scheduled to deliver first LNG from the first train by mid-2015. First LNG from the second train was expected in early 2016.