DOW
16/04/2015 08:30
GENERAL
NOT PRICE SENSITIVE
REL: 0830 HRS Downer EDI Limited
GENERAL: DOW: Downer Completes Syndicated Debt Facility Extension
Media/ ASX and NZX Release
15 April 2015
DOWNER COMPLETES SYNDICATED DEBT FACILITY EXTENSION
Downer EDI Limited (Downer) announced today it had successfully completed the
extension of the Group's A$400 Million Syndicated Debt Facility (Facility).
The Facility, which closed in April 2013, had an initial maturity of four
years and included options exercisable in April 2014 and April 2015 to extend
the term for an additional one year period. The first option was exercised in
April 2014. The second option has now been exercised and the Facility now
matures in April 2019.
At the same time, the pricing of the Facility has been reduced to reflect
both the general contraction in credit market spreads and the ongoing
improvement in Downer's credit profile. This revised pricing will apply from
April 2015. The Group is rated BBB (Stable) by Fitch.
All the banks in the Facility unanimously agreed to the extension.
"This extension reflects the consistent support Downer continues to receive
from its domestic and international banks," said the Chief Financial Officer
of Downer, Kevin Fletcher.
"The transaction reduces Downer's funding costs and also extends the
company's weighted average debt duration."
For further information please contact:
Michael Sharp, Group Head of Corporate Affairs and Investor Relations
+61 439 470145
Luke Thrum, Manager Investor Relations
+61 459 828720
Downer EDI Limited (Downer) is a leading provider of services to customers in
markets including Transportation, Mining, Energy and Industrial Engineering,
Utilities, Communications and Facilities. Downer employs about 20,000 people,
mostly in Australia and New Zealand but also in the Asia-Pacific region,
South America and Southern Africa.
End CA:00263138 For:DOW Type:GENERAL Time:2015-04-16 08:30:24