ORG origin energy limited

News: ORG Origin Energy clarifies on financing arrangements

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    Jan 21 (Reuters) - Origin Energy Ltd (ORG) :

    • Origin clarifies financing arrangements (ORG)
    • Company has in excess of $6.5 billion of committed undrawn debt facilities and cash
    • Says it has no material refinancing requirements until FY 2019
    • Says company currently has $500 million of drawn bank debt
    • Is confident that robust financing arrangements will help co to withstand a prolonged period of low oil prices
    • Impact on co of credit rating below bbb- (S&P) / baa3 (Moody's) is limited to an increase in margin on drawn bank facilities of 0.30 per cent
    • Says no financial covenants or conditions to draw down under origin's existing debt facilities
    • Says there are no cash flow financial covenants in Australia pacific lng's project finance facilities
    • Earnings from existing businesses have minimal exposure to oil price and provide significant headroom on debt financial covenants
                            
 
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Last
$12.72
Change
0.140(1.11%)
Mkt cap ! $21.87B
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