DBP Executes A$400 million Bank Debt Refinancing

October 25, 2011

DBP Executes A$400 million Bank Debt Refinancing
October 2011

DBNGP Finance Co Pty Limited is pleased to note the execution of a $400 million, three-year bank debt facility.

The amount raised will be applied by DBP to refinance:

• $253 million of bank debt maturing in June 2012; and
• $99 million of the remaining balance of bank debt maturing in June 2014. DBP recently repaid $128 million of this facility and $32 million of the remaining subordinated debt (SOLA) balance from the proceeds of the upfront portion of the recently announced $200 million DBP equity recapitalisation.

The remaining balance, after funding up-front borrowing costs, will be used to partially repay DBP’s credit wrapped floating rate notes when they mature in April 2012.

DBP’s CEO, Mr Stuart Johnston, said “this bank debt transaction continues a track record for DBP of successfully accessing debt markets, and demonstrates the benefits of the recent equity recapitalisation undertaken by its owners.”

Media Contact
Gemma Tognini, gtmedia
0400 006 376

Background
DBP

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 DBNGP

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.

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