DBP A$235m Bank Debt Refinancing
DBNGP Finance Co Pty Limited, the financing vehicle in the DBNGP group of entities (DBP), is pleased to note the contract close of a $235 million, five-year bank debt facility.
The amount raised will be applied to repay DBP’s credit wrapped floating rate notes when they mature in April 2012.
DBP’s CEO, Mr Stuart Johnston, said “this transaction is pleasing as it achieves well-priced bank debt with tenor, in addition to welcoming three new relationship financiers within DBP’s bank group.”
As a result of this transaction, DBP has no unfunded debt maturities until April 2013.
Gemma Tognini, GT Media
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.