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APA Group has completed a syndicated credit deal to raise AUD1 billion (US$716 million) of senior unsecured debt.
APA was able to boost the amount of the offering from AUD500 million (US$357.32 million) to AUD1 billion (US$716 million) with the support of more than 20 new and existing financiers. The new facility is divided into two equal tranches with tenors of 5 and 7 years.
The funds will be utilized to refinance the variable debt used to fund the acquisition of Basslink debt, as well as contribute to APA's growth programs and general business reasons.
