LNG

Aug 30 (LNGJ) - Santos, the operator of LNG plants in Australia and with a stake in Papua New Guinea LNG and its expansion, said it signed documentation to amend and extend its two syndicated bank loan facilities totalling US$1.25 billion.

   “Following refinancing of the existing facilities, Santos will have no significant debt maturities until 2027, excluding the PNG LNG project finance which is serviced directly from project cash flows,” said Santos. The two-tier loan bears a floating interest rate over the Secured Overnight Funding Rate with a margin that references the Santos external credit rating, currently 1.3 percent per annum for a three-year facility and 1.5 percent per annum for a 5.5-year facility.