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APA GROUP — Capital/Financing Update 2024
May 16, 2024
64398_rns_2024-05-16_2de85d34-a950-4c3a-afc3-1ed595e8ac38.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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17 May 2024
ASX ANNOUNCEMENT
APA Group (ASX:APA)
APA CONTINUES TO PROACTIVELY MANAGE DEBT PORTFOLIO WITH NOTE TENDER
Leading Australian energy infrastructure business APA Group (ASX:APA) has received buy back acceptances from holders of 63% of its GBP 350,000,000 Guaranteed Notes due November 2024.
The tender was positively received, allowing APA to buy back a total of approximately GBP 221 million (AUD 344 million) of the Notes. The outstanding GBP 129 million (AUD 192 million) Notes will be redeemed at maturity on 26 November 2024.
The tender offer was funded from cash reserves.
APA Group CFO Garrick Rollason said APA would benefit from repaying the Notes six months ahead of their maturity with the swapped cost in AUD on the Notes being 7.36%.
“Following this buy back, we are well positioned to manage future refinancings that mature in the next 12 months, while also reducing our finance costs. We will continue to take a disciplined approach to capital management and ensure we are allocating free cash flow to initiatives that create the most value for our securityholders,” Mr Rollason said.
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Authorised for release by Amanda Cheney
Company Secretary APA Group Limited
For further information, please contact:
Investor enquiries: Media enquiries: Kynwynn Strong Michael Cox General Manager Investor Relations & Capital Head of Media Relations & Financial Communications Telephone: +61 3 9463 8408 Telephone: +61 2 8044 7002 Mob: +61 410 481 383 Mob: +61 429 465 227 Email: [email protected] Email: [email protected]
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, $27 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, Tasmania with Victoria and New South Wales with Queensland through our investments in electricity transmission assets. We also own and operate renewable power generation assets in Australia, with wind and solar projects across the country. 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.