close
MENU
Hot Topic Reporting season
Hot Topic Reporting season
1 mins to read

Origin prices 500 million euros of medium-term notes


The proceeds will be swapped into US dollars at an average rate of 3.46% annually.

Hannah Lynch
Wed, 11 Jul 2018

(BusinessDesk) 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%.

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% 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 says.

The notes will be issued by Origin's subsidiary, Origin Energy Finance. The settlement of the offering is expected to occur on October 11.

Shares in Origin rose 0.4% to $A11.54 on the ASX.

Hannah Lynch
Wed, 11 Jul 2018
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Origin prices 500 million euros of medium-term notes
24343
false