DBP Completes $745m Bank Debt Transaction
DBNGP Finance Co Pty Limited, DBP’s financing vehicle, is pleased to note the contract close of a $745 million bank debt refinancing transaction.
The transaction is split between the following tenors:
3 years $225m
4 years $225m
5 years $295m
The amount raised will be applied to refinance nearly 90% of DBP’s term debt maturing in October 2014 and other bank debt facilities.
DBP’s CEO, Mr Stuart Johnston, said “This transaction was completed on very competitive terms with strong support from DBP’s bank group.”
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%, in aggregate), 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.