DBP A$155 Million Bank Debt Facility
DBNGP Finance Co Pty Limited, the financing vehicle in the DBNGP group of entities (DBP), is pleased to note the contract close of an A$155 million, seven year bank debt facility.
The amount raised will be applied to repay part of DBP’s A$325 million of floating rate notes when they mature in April 2013.
DBP’s CEO, Mr Stuart Johnston, said “This transaction was led by The Bank of Tokyo-Mitsubishi UFJ, Ltd., a long term banker to the company, and establishes new Japanese bank relationships for DBP on competitive terms. The remaining A$170 million balance of DBP’s April 2013 debt maturity is expected to be refinanced by the end of this year.”
Gemma Tognini, gtmedia
0400 006 376
DBP Transmission is the trading name of the DBNGP group of entities that purchased the Dampier to Bunbury Natural Gas Pipeline in October 2004. DBP is majority owned by DUET Group (80%), with Alcoa a 20% minority owner.
The Dampier to Bunbury Natural Gas Pipeline (DBNGP) is the only natural gas pipeline connecting the Carnarvon Basin on Western Australia’s North-west Shelf with industrial, commercial and residential customers in Perth and the surrounding region. The pipeline runs from the Burrup Peninsula, near Dampier, to Bunbury in the south-west of the State.