https://www.miningweekly.com

Santos prices $600m bond

7th March 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Oil and gas major Santos on Thursday priced a $600-million senior unsecured fix rate bond, with the proceeds to be used for refinancing a $500-million bridge facility used to part fund the Quadrant Energy acquisition, as well as for general corporate purposes.

The bonds have been priced at a fixed coupon of 5.25% over a period of ten years, maturing in March 2029.

Santos MD and CEO Kevin Gallagher said that the offering, which was five times oversubscribed, was consistent with the company’s strategy of securing competitively priced long-term capital.

“This is an excellent result for Santos, showing strong support from the capital markets and demonstrating our balance sheet is up to support our growth strategy.

“The bond will replace the existing two-year bridge facility and in conjunction with the repayment of the balance of the uncovered ECA facility later in March, will mean that all significant near-term debt maturities have been addressed with more efficient long-term debt funding.”

Edited by Creamer Media Reporter

Comments

Showroom

Universal Storage Systems (SA)
Universal Storage Systems (SA)

South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...

VISIT SHOWROOM 
SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (12/04/2024)
12th April 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.121 0.163s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: