Wednesday 3rd October 2012 |
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Origin Energy, the ASX-listed operator of the Kupe oil and gas field, will sell 500 million euros of seven year medium term notes at an interest rate of 2.87 percent.
The notes will be issued under Origin's Euro Medium Term Note Program and will mature in October 2019. The proceeds will be swapped into US dollars at an average rate of 3.46 percent annually.
"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," executive director of finance and strategy, Karen Moses said in a statement.
The notes will be issued by Origin's subsidiary, Origin Energy Finance. The settlement of the offering is expected to occur on Oct. 11.
Shares in Origin rose 0.4 percent to A$11.54 on the ASX.
BusinessDesk.co.nz
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