AI assistant
APA GROUP — Capital/Financing Update 2008
Jul 15, 2008
64398_rns_2008-07-15_b4eefd75-2c92-4aba-92ed-afd036fa9b20.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [58 x 81] intentionally omitted <==
MEDIA RELEASE
==> picture [157 x 51] intentionally omitted <==
16 July 2008
16 July 2008
The Manager
Company Announcements Office Australian Securities Exchange 4[th] Floor, 20 Bridge Street Sydney NSW 2000
Electronic Lodgement
Dear Sir or Madam
Company Announcement
I attach the following announcement for release to the market:
- APA Group Enters into new facilities for $165 Million
Yours sincerely
==> picture [100 x 53] intentionally omitted <==
Sandra Dureau
Company Secretary
Page 1
MEDIA RELEASE
16 July 2008
==> picture [58 x 81] intentionally omitted <==
==> picture [157 x 51] intentionally omitted <==
APA GROUP ENTERS INTO NEW FACILITIES FOR $165 MILLION.
APA Group (APA) today announced that it has executed new debt Facility Agreements totalling $165 million to refinance the first tranche of Medium Term Notes of $150 million maturing in August 2008, and the remainder to supplement APA’s existing debt facilities. The terms of these Facilities are each for three years, through to July 2011.
The new Facilities have been agreed on a bilateral basis with three banks and are on terms and conditions largely the same as the Syndicated Facility executed in June 2007. The average margin across the new Facilities is under 100 basis points.
APA has no further debt maturing in 2008. APA’s only debt maturity in 2009 is the second and final tranche of the Medium Term Notes of $300 million due in March 2009.
APA currently has approximately $450 million of undrawn committed facilities available to it under its Syndicated Facility, and has a healthy spread of maturities across its entire debt portfolio that extends out to 2022.
For further information please contact:
Chris Kotsaris, Investor Relations APA Group Telephone: (02) 9693 0049 or Mob: 0402 060 508 Email: [email protected]
About APA Group (APA)
APA Group, comprised of Australian Pipeline Trust and APT Investment Trust, is the major ASX-listed energy transmission company in Australia with interests in almost 12,000 kms of natural gas pipeline infrastructure, over 2,300 kms of gas distribution networks in south east Queensland, Coal Seam Gas processing plants, gas fired power stations, gas storage facilities and two high voltage direct current interconnector systems.
APA manages and operates all its assets and also provides management and operation services to gas distribution and transmission company Envestra (which owns 19,100 km of natural gas distribution networks and 1,029 km of natural gas transmission pipelines). It also holds an 18 percent stake in Envestra and a one-third interest in the SEAGas pipeline. APA Group has a varied and quality customer base including AGL Energy, Cooper Eromanga Basin Producers, Xstrata, Newmont, CS Energy, BHP Billiton, Zinifex, Incitec Pivot, Origin, RioTinto, Nickel West, Synergy and Verve Energy.
Page 2