Firm refinances debt
The National, Monday December 21st, 2015
OIL Search Ltd says it has refinanced its two US$125 million (K363 million) bilateral revolving credit facilities provided by Australia and New Zealand Banking Group Limited and the Commonwealth Bank of Australia.
The company said following a competitive bid process, which was very well supported, both US$125 million (K363 million) bilateral revolving credit facilities with both banks had been extended to December 2018.
Oil Search said with its US$500m (K1454m) non-amortising revolving credit facility due to expire in October 2017, the company now had a total undrawn corporate facilities of US$750m (K2181m).
Managing director Peter Botten said the firm was pleased to have completed the transaction and thanked ANZ and CBA for their support.