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.
Country updates
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