Origin completes amendment of syndicated loan facilities to reduce interest cost and extend maturities

Origin Energy Limited (Origin) today announced the successful amendment of its existing $6.6 billion syndicated loan facilities to reduce the interest rate margin, extend the maturity, and increase the limit of the facilities by $750 million to $7.4 billion. The amendment of these facilities was negotiated with a syndicate of domestic and international banks.

The interest cost of the bank loan facilities has been reduced by 0.30 per cent per annum and flexibility has been added with increased US dollar drawdown capability.

The tenors of the bank loan facilities, which were originally four and five years, have been extended by 16 months to December 2018 and December 2019 respectively.

Origin Executive Director, Finance and Strategy, Ms Karen Moses said, "This amendment to extend the Company's debt maturity profile and lower interest costs is timed to benefit from favourable bank loan market conditions and provide further financial flexibility.

"Given the attractive funding costs we saw it as prudent to take the opportunity to add to the existing facilities, further supporting a conservative liquidity buffer through start up of Australia Pacific LNG's first and second train. The successful amendment demonstrates ongoing support for Origin by domestic and international banks."

ANZ, Commonwealth Bank of Australia, Mizuho and the National Australia Bank acted as Coordinating Mandated Lead Arrangers and Bookrunners on the transaction.

View theInvestor Presentation - Update on Amended Loan Facilities and APLNG(182KB)


For further information please contact:

Media
Anneliis Allen
Senior External Affairs Manager
Ph: +61 2 8345 5119
Mobile: +61 428 967 166

Investors
Chau Le
Group Manager, Investor Relations
Ph: +61 2 9375 5816
Mobile: +61 467 799 642

About Origin Energy

Origin Energy (ASX: ORG) is the leading Australian integrated energy company focused on gas and oil exploration and production, power generation and energy retailing. A member of the S&P/ASX 20 Index, the Company has approximately 6,700 employees and is a leading producer of gas in eastern Australia. Origin is Australia's largest energy retailer servicing 4.3 million electricity, natural gas and LPG customer accounts and has one of the country's largest and most flexible generation portfolios with approximately 6,010 MW of capacity, through either owned generation or contracted rights. Origin's strategic positioning and portfolio of assets provide flexibility, stability and significant opportunities for growth across the energy industry. Through Australia Pacific LNG, its incorporated joint venture with ConocoPhillips and Sinopec, Origin is developing one of Australia's largest CSG to LNG projects based on Australia's largest 2P CSG reserves base.

In New Zealand, Origin is the major shareholder in Contact Energy, a leading integrated energy company, operating geothermal, thermal and hydro generation facilities totalling 2,359 MW and servicing approximately 568,000 electricity, gas and LPG customers across both the North and South islands. Origin also operates several oil and gas projects in New Zealand and is one of the largest holders of petroleum exploration acreage in the country.

Origin has a strong focus on ensuring the sustainability of its operations, is the largest green energy retailer in Australia and has significant investments in renewable energy technologies.

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