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.
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(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
Wed, 11 Jul 2018
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Origin prices 500 million euros of medium-term notes
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