30 September 2013

Origin successfully prices €800 million medium term notes as it refinances existing debt facilities

Origin Energy Limited (Origin) today announced the successful pricing and allocation of €800 million eight year medium term notes (Notes).

The Notes have a coupon of 3.50 per cent and will mature in October 2021. The proceeds have been swapped into Australian dollars.

The Notes will be issued by Origin Energy Finance Limited (a subsidiary of Origin) and will be guaranteed by Origin and certain of its subsidiaries.

Origin Executive Director, Finance and Strategy, Ms Karen Moses said, ‘The successful pricing and allocation of the Notes is consistent with Origin's focus on managing the maturity of its existing debt facilities.’

The proceeds of the Notes will be used to repay drawn amounts and cancel undrawn amounts under Origin's recently announced $7.4 billion syndicated bank loan facility, to fund its contribution to Australia Pacific LNG and for general corporate purposes.

The settlement of the offering is expected to occur in early October 2013 and is subject to customary settlement conditions.

A summary of the key terms and conditions for the transaction is attached in Annexure A.


Contacts

Media
Anneliis Allen
Senior External Affairs Manager 
Ph: +61 2 8345 5119
Mobile: +61 428 967 166
Investors
Chau Le
Group Manager, Investor Relations
Ph: +61 2 9375 5816
Mobile: +61 467 799 642

The securities referred to in this announcement will not be registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of that Act.

Annexure A - Summary of key terms and conditions

Transaction 8 year notes
Size EUR800,000,000
Proceeds in AUD AUD1,164,144,354
Coupon 3.500 per cent
Maturity October 2021
Issuer Origin Energy Finance Limited
Guarantors Origin Energy Limited and certain of its subsidiaries
Ranking Pari passu with all other unsubordinated and unsecured indebtedness of the Issuer
Change of Control Upon a change of control of Origin and a subsequent downgrade of the Notes to below investment grade within a specified time by two or more rating agencies engaged by Origin, each holder of the Notes has the right to require the Issuer to purchase that holder’s Notes at a purchase price equal to 101% of the principal amount thereof, plus accrued and unpaid interest (if any) to the date of purchase