Origin Energy has raised 500 million euros ($A634.68 million) through a bond issue to raise funds for the $23 billion Australia Pacific LNG (APLNG) project in Queensland.
Australia’s largest electricity retailer said it had priced and allocated the seven-year, medium-term notes.
The notes have a coupon of 2.875 per cent and average rate of 3.462 per cent per when swapped into US dollars.
The notes will mature in October 2019.
Origin’s executive director of finance and strategy Karen Moses said the company would use the proceeds from the issue of notes to refinance existing debt and fund its cash contribution to APLNG, which is a coal seam gas project.
The company has been active in the corporate bond market, allowing it to reduce its reliance on bank debt and give it flexibility.
In May, it secured $US8.5 billion ($A8.32 billion) in funding for APLNG, in which it has a 37.5 per cent stake.
Origin shares had increased by 10 cents to $11.60 at 1404 AEST.
