Origin Energy announced the successful pricing and allocation of €800 million eight year medium term notes. The notes have a coupon of 3.50 per cent and will mature in October 2021. The proceeds have been swapped into Australian dollars.
The notes will be issued by Origin Energy Finance Limited (a subsidiary of Origin) and will be guaranteed by Origin and certain of its subsidiaries.
Origin Executive Director, Finance and Strategy, Karen Moses said, ‘ The successful pricing and allocation of the Notes is consistent with Origin’s focus on managing the maturity of its existing debt facilities .’
The proceeds of the notes will be used to repay drawn amounts and cancel undrawn amounts under Origin’s recently announced $7.4 billion syndicated bank loan facility, to fund its contribution to Australia Pacific LNG and for general corporate purposes.
The settlement of the offering is expected to occur in early October 2013 and is subject to customary settlement conditions.
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LNG World News Staff, September 30, 2013