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BRIEF-Origin Energy clarifies on financing arrangements

Published 21/01/2016, 01:30 pm
© Reuters. BRIEF-Origin Energy clarifies on financing arrangements
ORG
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Jan 21 (Reuters) - Origin Energy Ltd ORG.AX :

* Origin clarifies financing arrangements ORG.AX

* 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

* Source text for Eikon ID:nASX2BKRWC

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