Gulf Oil and Gas accountACCOUNT

Santos Executes New $750M Syndicated Debt Facility

Source: www.gulfoilandgas.com 11/5/2020, Location: Not categorized

Santos has executed documentation to enter into a new US$750 million syndicated bank loan facility. The facility was approximately three times oversubscribed, receiving strong support from a mix of existing and new relationship banks. The new five and a quarter-year facility will mature in January 2026, extending Santos’ weighted average term to maturity of its drawn debt facilities to almost five years.

Proceeds from the new facility will be used to refinance the existing US$750 million debt facility established for the acquisition of ConocoPhillips’ northern Australian and Timor-Leste assets, which was completed in May 2020.

Santos Managing Director and Chief Executive Officer Kevin Gallagher said the new debt facility is consistent with the company’s strategy of securing competitively priced long-term funding.

“This is an excellent result for Santos, showing strong support from bank lenders and demonstrating our balance sheet is set up to support our growth strategy.”

“With this new facility in place, we now have no material debt maturities until 2024.”

“We also have ample liquidity in place and our debt covenants have sufficient headroom at current oil prices for a number of years,” Mr Gallagher said.

Financials and Investment News in Australia >>

Botswana >>  3/1/2021 - Tlou Energy Limited is focused on delivering cleaner electricity in Botswana and southern Africa using gas and solar power. The Company's first propos...
Brazil >>  3/1/2021 - Last week, Petrobras received approximately R $ 360 million (US $ 65 million) as a result of a leniency agreement signed by Samsung Heavy Industries. ...

Spain >>  3/1/2021 - Prospex Energy PLC, the AIM quoted investment company focused on European gas and power projects, is pleased to announce the completion of the acquisi...
United Kingdom >>  3/1/2021 - Diversified Gas & Oil PLC (DGOC) announces the vesting of Restricted Stock Units ("RSUs") issued under its equity incentive plan (the "Plan") to membe...

Israel >>  2/28/2021 - Energean PLC (Energean) (ENOG) is pleased to announce that its subsidiary, Energean Israel Finance Ltd. intends to offer US$2.5 billion aggregate prin...
Malaysia >>  2/26/2021 - Sapura Energy Berhad (“Sapura Energy”) a leading global integrated oil and gas services and solutions provider, announced that it has signed an Islami...




Australia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.