Santos Raises New Loan

摘要

Australia’s Santos said Monday that it has signed a A$2 billion (US$1.74 billion) bank loan to increase liquidity and refinance A$700 million of undrawn bank facilities that mature between 2011 and 2013. Santos will now have A$6 billion of available funding capacity, including cash and committed corporate and project debt. Chief Financial Officer Peter Wasow said the debt refinancing provides significant flexibility to fund growth, including the company’s planned 7.2 million ton/yr Gladstone LNG (GLNG) project in Queensland and its 13.5% stake in the Exxon Mobil-led US$15 billion PNG LNG project in Papua New Guinea (IOD Jul.15,p2).