Refinancing of Australian debt facilities (0063G)
June 25 2012 - 2:00AM
UK Regulatory
TIDMIPR
RNS Number : 0063G
International Power plc
25 June 2012
Refinancing of Australian debt facilities
25 June 2012 -- GDF SUEZ and International Power (70% owned by
GDF SUEZ) are pleased to announce the refinancing of debt
facilities at the Hazelwood and Loy Yang B power plants in
Australia. The refinancing of both facilities was completed in a
challenging environment of continuing regulatory uncertainty around
energy and carbon policy.
The debt of A$652 million (EUR522 million) at the 1,542MW
Hazelwood plant will be repaid from GDF SUEZ corporate resources.
This repayment demonstrates the strength and flexibility of the GDF
SUEZ balance sheet and delivers synergies to the Group, which were
anticipated from the Combination between International Power and
GDF SUEZ in February 2011. The existing facility for Hazelwood will
be repaid in full on 29 June 2012.
The debt at the 955MW Loy Yang B plant, co-owned with our
partner Mitsui & Co., Ltd., has been refinanced with a
syndicate of banks. Project finance debt of A$1.06 billion (EUR0.85
billion) with a tenor of five years, maturing 30 June 2017, was
provided by the syndicate, comprising both existing and new
members. The new debt facility was well supported, particularly by
the Australian and Asia-Pacific banks.
Notes to Editors
An exchange rate of EUR1: A$1.249 has been used in this
announcement.
About International Power
International Power plc is a leading independent electricity
generating company with 75,579MW gross (43,288MW net) in operation
and a significant programme of 12,820MW gross (5,868MW net)
projects under construction as at 31 December 2011. International
Power is present in 30 countries across six regions worldwide.
Together with power generation, the Group is also active in closely
linked businesses including downstream LNG, gas distribution,
desalination and retail. International Power is listed on the
London Stock Exchange with ticker symbol IPR. GDF SUEZ holds a 70%
interest in International Power plc. Company website:
www.iprplc-gdfsuez.com
About GDF SUEZ
GDF SUEZ develops its businesses around a model based on
responsible growth to take up today's major energy and
environmental challenges: meeting energy needs, ensuring the
security of supply, combating climate change and optimizing the use
of resources. The Group provides highly efficient and innovative
solutions to individuals, cities and businesses by relying on
diversified gas-supply sources, flexible and low-emission power
generation as well as unique expertise in four key sectors:
liquefied natural gas, energy efficiency services, independent
power production and environmental services. GDF SUEZ employs
218,900 people worldwide and achieved revenues of EUR90.7 billion
in 2011. The Group is listed on the Brussels, Luxembourg and Paris
stock exchanges and is represented in the main international
indices: CAC 40, BEL 20, DJ Stoxx 50, DJ Euro Stoxx 50, Euronext
100, FTSE Eurotop 100, MSCI Europe, ASPI Eurozone and ECPI Ethical
Index EMU.
International Power contacts GDF SUEZ contacts
Investor Contact Investor Contact
Aarti Singhal Telephone: +33 (0)1 44 22 66 29
Telephone: +44 (0)20 7320 8681 e--mail: ir@gdfsuez.com
Media Contact Media Contact
Sally Hogan Telephone France: +33(0)1 44 22 24 35
Telephone: +44 (0)20 7320 8678 Telephone Belgium: +32 2 510 76
70
e-mail: gdfsuezpress@gdfsuez.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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