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APA GROUP — Capital/Financing Update 2022
Jun 7, 2022
64398_rns_2022-06-07_1922e79e-ae69-492f-a9fd-333da842af80.pdf
Capital/Financing Update
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APA Group Limited ACN 091 344 704 | APA Infrastructure Trust ARSN 091 678 778 | APA Investment Trust ARSN 115 585 441 Level 25, 580 George Street Sydney NSW 2000 | PO Box R41 Royal Exchange NSW 1225 Phone +61 2 9693 0000 | Fax +61 2 9693 0093 APA Group | apa.com.au
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8 June 2022
ASX ANNOUNCEMENT
APA Group (ASX: APA)
APA GROUP SUCCESSFULLY COMPLETES $1 BILLION SYNDICATED LOAN FACILITY
Leading Australian energy infrastructure business APA Group (ASX: APA) has successfully raised AUD $1 billion of senior unsecured debt via a syndicated loan facility.
Strong support from more than 20 new and existing financiers enabled APA to increase the size of the offering from AUD $500 million to AUD $1 billion. The loan syndicate includes leading Australian and Asian banks.
The new facility comprises two equal tranches of 5 and 7 year tenor. Both tranches are swapped into fixed rates with the overall cost broadly in line with APA’s existing average cost of debt.
| Issuance | 5 year | 7 year | ||
|---|---|---|---|---|
| Issuance amount | AUD $500 million | AUD $500 million | ||
| Fixed AUD interest rate | 4.9% | 5.2% | ||
The proceeds of the offering will refinance the variable debt used to fund the acquisition of Basslink debt, contribute to funding APA’s growth projects and for general corporate purposes.
“The Asian syndicated loan market is a new market for APA,” said APA’s Chief Financial Officer Adam Watson. “The benefits of accessing this market include diversification of our funding base and rates that are currently more attractive than those available in the corporate bond market.
“We are delighted with the strong support from our financiers. It illustrates the confidence they have in our business and enables us to continue to strengthen our balance sheet.”
Authorised for release by Amanda Cheney
Company Secretary APA Group Limited
For further information, please contact:
About APA Group (APA)
APA is a leading Australian Securities Exchange (ASX) listed energy infrastructure business. We own and/or manage and operate a diverse, $21 billion portfolio of gas, electricity, solar and wind assets. Consistent with our purpose to strengthen communities through responsible energy, we deliver approximately half of the nation’s gas usage and connect Victoria with South Australia and New South Wales with Queensland through our investments in electricity transmission assets. We are also one of the largest owners and operators of renewable power generation assets in Australia, with wind and solar projects across the country.
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APA Infrastructure Limited is a wholly owned subsidiary of APA Infrastructure Trust and is the borrowing entity of APA Group.
For more information visit APA’s website, apa.com.au.
Investor enquiries: Kynwynn Strong General Manager Investor Relations Telephone: +61 3 9463 8408 Mob: +61 410 481 383 Email: K [email protected]
Media enquiries: Michael Cox Corporate Affairs Manager Telephone: +61 2 8044 7002 Mob: +61 429 465 227 Email: [email protected]
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