An A$800 million dual-tranche facility was completed for AGL Energy on June 5, supported by four domestic banks and 13 offshore banks. The deal was oversubscribed but was not upsized.
The debt package comprises a A$200 million fully-drawn bullet facility and a A$600 million revolver. The senior unsecured debt pays a spread of 280bp over BBSY.
Proceeds from the financing, together with cash from asset sales, are to refinance A$1.1 billion and A$550 million facilities maturing in 2009 and 2010 respectively.
DBNGP Finance has successfully secured a A$480 million fundraising from a consortium of eight banks.
The financing is split into three- and five-year term loans of A$253 million and A$228 million...