DBP Prices A $100 Million Medium Term Notes
DBP Prices A$100 Million Medium Term Notes
DBNGP Finance Co Pty Limited (Baa3/BBB-) today priced a A$100 million issue of Fixed Rate 6 Year Medium Term Notes. The Notes can be summarised as follows:
Settlement Date: 1 October 2014
Maturity Date: 1 October 2020
Pricing: Fixed rate coupon of 5.00% per annum
The Joint Lead Managers to the bond issuance were Commonwealth Bank of Australia and National Australia Bank.
DBP’s Chief Executive Officer, Stuart Johnston, said “The funds raised will be applied to refinance the remaining A$50 million of bank debt maturing in October 2014 together with other higher priced debt facilities.
This transaction demonstrates the ongoing value of this market to DBP as a repeat issuer in recent years.”
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.