Australia: Origin Energy to Raise AUD 500 Million for APLNG

Origin Energy Limited has today lodged a prospectus with the Australian Securities and Investments Commission (ASIC) for an offer of dated, unsecured, subordinated, cumulative notes (Notes) to raise $500 million with the ability to raise more or less (Offer).

The proceeds of the Offer will be used for general corporate purposes, in particular to assist in funding Origin’s contribution to the Australia Pacific LNG project. The Offer forms part of Origin’s ongoing capital management strategy. Origin expects that Notes will provide an amount of equity credit for Standard ∓ Poor’s and Moody’s.

Origin Executive Director, Finance and Strategy, Ms Karen Moses said, “Origin is the leading Australian integrated energy company with a strong track record of growth, and this Offer of Notes provides the company’s Australian and New Zealand shareholders and other local investors with an opportunity to invest in a security paying a fixed margin over a benchmark interest rate.

“With this transaction, Origin is taking a further step in securing funding requirements for the Australia Pacific LNG coal seam gas to liquefied natural gas project,” Ms Moses said.

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LNG World News Staff, November 15, 2011; Image: APLNG