Woodside Petroleum Ltd., the second largest oil producer in Australia, agreed to a $ 1,100,000,000 loan syndicated to five years to refinance existing debt.
Australia and New Zealand Banking Group Ltd. and Bank of Tokyo-Mitsubishi UFJ Ltd. to organize the loan, which was provided by 34 banks, Perth-based Woodside said in a filing with the bag. Funds will be used to repay a loan of the same size, signed in May 2009, according to the presentation.
Woodside November 30, said his company Pluto liquefied natural gas, one of more than a dozen proposals for LNG development in Australia and Papua New Guinea, will cost over $ 900 million (881 million U.S. dollars) and begin six months after than previously projected. Assessment of the credit card company was reduced to BBB from A-by Standard & Poor's on 3 December.
Woodside reduced its costs for funding the new loan, said today, without being more specific.
The oil producer was paying 225 basis points more than the rate for London interbank offered in the loan signed in May last year, while it was classified as A-. The margin increased to 250 basis points for a BBB rating, according to the data.
Woodside shares rose 0.9 percent to $ 43.11 as of 10:10 pm in Sydney, comparing its decline this year to 8.8 percent. The S & P / ASX 200 has fallen 3.3 percent in 2010.
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