DOW
14/04/2016 10:44
GENERAL
NOT PRICE SENSITIVE
REL: 1044 HRS Downer EDI Limited
GENERAL: DOW: Downer completes syndicated debt facility extension
Media/ ASX and NZX Release
14 April 2016
DOWNER COMPLETES SYNDICATED DEBT FACILITY EXTENSION
Downer EDI Limited (Downer) announced today it had successfully completed a
partial extension of the Group's A$400 million Syndicated Debt Facility
(Facility).
The Facility had an existing maturity date of April 2019 but has now been
restructured into two tranches with the first tranche of A$200 million
continuing to mature in April 2019 and the second tranche of A$200 million
now maturing in April 2021. Pricing for the April 2019 tranche remains
unchanged whilst pricing for the April 2021 tranche has been adjusted to
reflect the longer dated term. All existing syndicate banks participated in
the extension transaction.
The Acting Chief Financial Officer of Downer, Michael Ferguson, said the
company was very pleased with the outcome.
"Downer appreciates the continued support it receives from its relationship
banks," Mr Ferguson said. "This transaction extends the company's weighted
average debt duration and reduces refinancing risk."
The Group is rated BBB (Stable) by Fitch.
For further information please contact:
Michael Sharp, Group Head of Corporate Affairs and Investor Relations
+61 439 470145
Downer EDI Limited (Downer) is a leading provider of services to customers in
markets including: Transport Services; Rail; Mining; Utilities Services;
Technology and Communications Services; and Engineering, Construction &
Maintenance. We build strong relationships of trust with our customers, truly
understanding and predicting their needs and bringing them world leading
insights and solutions. Downer employs about 20,000 people across more than
200 sites and projects, mostly in Australia and New Zealand, but also in the
Asia-Pacific region, South America and Southern Africa. For more on Downer,
visit: www.downergroup.com.
End CA:00280840 For:DOW Type:GENERAL Time:2016-04-14 10:44:30
(20min delay)