Origin Prices USD 646 Million Notes, Australia

Origin Energy Limited announced the successful pricing and allocation of a €500 million (approximately US$646 million) seven year medium term notes issue under its Euro Medium Term Note Program.

The Notes have a coupon of 2.875 per cent and will mature in October 2019. The proceeds have been swapped into US dollars at an average rate of 3.462 per cent per annum.

Origin Executive Director, Finance and Strategy, Ms Karen Moses said, “Origin continues to focus on managing the maturity of its existing debt facilities, and the proceeds from the issue of Notes will be applied to the refinancing of existing debt and used to fund Origin’s cash contribution to Australia Pacific LNG.”

The Notes will be issued by Origin Energy Finance Limited (a subsidiary of Origin) and will be guaranteed by Origin Energy Limited and certain of its subsidiaries.

The settlement of the offering is expected to occur on 11 October 2012 and is subject to customary settlement conditions.

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LNG World News Staff, October 03, 2012