Australia: Woodside Completes Debt Facility Refinancing

Woodside has executed a five year US$1.1 billion syndicated loan facility with 34 domestic and international banks. Funds from the loan will be used to repay the US$1.1 billion syndicated loan facility executed in May 2009.

Australia and New Zealand Banking Group Limited and The Bank of Tokyo-Mitsubishi UFJ, Ltd. were joint-mandated lead arrangers of the syndicated loan.

This re-financing activity was undertaken to manage Woodside’s debt maturity profile, deferring the US$1.1 billion maturity from 2012 to 2015. Substantial improvements in financial markets since May 2009 allowed Woodside to enter this agreement for a term of five years with a reduction in financing costs.

Source: Woodside, December 9, 2010;

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