Origin Energy Ltd. has completed the amendment of its existing $6.6 billion syndicated loan facilities to reduce the interest rate margin, extend the maturity, and increase the limit of the facilities by $750 million to $7.4 billion. The amendment of these facilities was negotiated with a syndicate of domestic and international banks.
The interest cost of the bank loan facilities has been reduced by 0.30% per annum, and flexibility has been added with increased US dollar drawdown capability.
The tenors of the bank loan facilities, which were originally four and five years, have been extended by 16 months to December 2018 and December 2019, respectively.
ANZ, Commonwealth Bank of Australia, Mizuho, and the National Australia Bank acted as coordinating mandated lead arrangers and bookrunners on the transaction.