Australia’s Origin Energy that owns a 37.5 percent stake in the Australia Pacific LNG project, extended the A$4.5 billion bank debt facilities maturing in December 2018 to October 2021.
The extension has been agreed with a syndicate of domestic and international banks, Origin said in a statement on Thursday.
The existing limit of Origin’s bank debt facilities remains unchanged at A$7.4 billion, comprising A$2.9 billion maturing in December 2019 and A$4.51 billion maturing in October 2021. Origin currently holds A$6.6 billion1 of committed and undrawn debt facilities.
The Bank of Tokyo-Mitsubishi, Commonwealth Bank of Australia, National Australia Bank and Westpac Bank acted as lead arrangers and bookrunners on the transaction, that, according to Origin, improves the company’s financial resilience.