DBP signs $245m debt facility

DBP Transmission, the owner and operator of the Dampier natural gas pipeline, has signed up for a $245 million, seven-year debt facility with a Japanese bank.

The funds will be used to repay part of the company’s $565 million of medium term notes when they mature in September.

“This transaction was led by the Bank of Tokyo-Mitsubishi UFJ, a long-term banker to the company, building on a similar transaction completed in September 2012,” DBP chief executive Stuart Johnston said.

“It leverages off strong Japanese bank relationships and provides competitive terms to DBP.

“DBP remains well placed to manage its remaining 2015 debt maturities in the near term.” 

Last week, a $183 million, 270-kilometre gas pipeline connecting Fortescue Metals Group's Solomon hub operations to the Dampier gas pipeline was officially opened.