Australia: Woodside in USD 700 Million Bond Issue

Woodside has entered into an agreement for the issuance of US$700 million in corporate bonds into the United States 144A bond market. Settlement of the offering is subject to certain customary conditions.

The bonds will be issued by Woodside Finance Ltd, a wholly owned subsidiary of Woodside Petroleum Ltd, and will consist of US$700 million of 10-year bonds with a coupon of 4.6%.

The bonds will be guaranteed by Woodside Petroleum Ltd and its wholly owned subsidiary, Woodside Energy Ltd.

The funds will be used for general corporate purposes including, but not limited to, repayment of some of Woodside’s existing debt, which matures in 2011, as well as the funding of our ongoing capital and exploration program.

[mappress]

Source: Woodside, May 4, 2011;