Bloomberg News

Australia Pacific LNG Said to Sign $2.5 Billion 16-Year Loan

February 26, 2012

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.

To contact the reporter on this story: Sarah McDonald in Sydney at smcdonald23@bloomberg.net

To contact the editor responsible for this story: Katrina Nicholas at knicholas2@bloomberg.net


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