Ann: Results Presentation, page-6

Another speculative article from Bridget Carter in 'The Australian' (online - will be in paper on Monday 30 August 2021):

(note the comment re a possible equity raising):

"$11bn infrastructure owner APA is understood to be looking at the acquisition of an undersea cable, and some think it might be the Basslink Interconnector.

Owners of the 290km underwater cable between Tasmania and Victoria had been looking to refinance debt in a process overseen by Citi but are understood to have dropped the plan.

DataRoom understands that the reason was that a suitor interested in buying the asset, or the owners, were considering a different capital structure.

Whether the undersea cable that APA is interested in acquiring is Basslink or another asset in the US or elsewhere remains unclear.

APA owns 15,000km of gas pipelines across Australia and delivers half the nation’s gas.

It has been looking at acquisition targets in the US and is said to have been competing in a number of auctions.

Separately, sources say it has its eye on a target in the domestic market.

The understanding is that the company has had Goldman Sachs, Macquarie and JPMorgan on standby for a $2bn equity raising next month to fund an acquisition..."