Australia’s largest electricity retailer Origin Energy has sold 800 million in euro bonds ($A1.17 billion) to refinance debt.
The proceeds from the eight-year medium-term notes will be used to repay current debt.
The company recently refinanced $7.4 billion in debt to help pay for its 37.5 per cent share in the $24.7 billion Australia Pacific LNG project in Queensland.
The notes have a 3.5 per cent coupon rate and will mature in October 2021.
With interest rates at historic lows, Origin Energy isn’t alone in taking advantage.
BHP Billiton last week moved to secure long-term debt at those rates, issuing $US5 billion ($A5.40 billion) on global bond markets.
Origin’s shares had slumped 27 cents, or 1.9 per cent, to $14.20 by 1130 AEST.