Origin Executes $2.6B of New Bank Debt Facilities

Origin has executed a syndicated bank loan for A$2.3 billion and US $200 million together with an A$100 million bilateral bank guarantee facility.

Origin's Executive Director, Finance and Strategy, Ms Karen Moses, said, "The facilities, which will be used to refinance Origin's maturing debt, have terms of between three and five years providing further flexibility as we continue to grow our business.

"The solid support that we received from domestic and international debt markets evidences the strength of our business and financial profile."

The syndicated facility was launched with a targeted size of A$1.8 billion and US $200 million, and focussed on the Australian and Asian bank debt markets. Following strong demand from Origin's existing bank group, as well as from new banks, the facility was closed significantly oversubscribed and Origin accepted A$500 million of over subscriptions.

The new facilities consist of three and five year revolving debt with $1.9 billion maturing in five years and $0.7 billion maturing in three years. Origin's portfolio of debt facilities will now have an average maturity of 4.4 years.

The new facilities will be used to refinance A$1.8 billion and US $200 million of existing facilities that mature in Financial Years 2010 and 2011.



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