APLNG Completes 16-Year Loan (Australia)

APLNG Completes 16-Year Loan

Australia Pacific LNG has completed a $2.5 billion, 16-year project finance loan with nine banks, Bloomberg reported, citing unnamed source.

Proceeds will be used for the project and the loan pays a margin of between 200 to 300 basis points more than the London interbank offered rate, increasing to more than 300 basis points once the field is in the post-construction phase, Bloomberg reported.

APLNG is a joint venture between three industry leaders in the fields of coal seam gas and liquefied natural gas production – Origin (42.5%), ConocoPhillips (42.5%)  and Sinopec (15%).
[mappress]LNG World News Staff, February 24, 2012; Image: APLNG