Feb. 24 (Bloomberg) -- Australia Pacific LNG Pty. completed a $2.5 billion, 16-year project finance loan with nine banks, according to a person familiar with the matter.
Proceeds will be used to build a liquefied natural gas project in Queensland and the loan pays a margin of between 200 to 300 basis points more than the London interbank offered rate, increasing to more than 300 basis points once the project is in the post-construction phase, the person said,
Some of the lenders to the facility may syndicate the debt further to other banks, the person said, asking not to be identified because the details are private.
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