BASIS POINT-DUET A$480 mln pipeline loan to finalise-source

MELBOURNE, May 21 (Reuters Basis Point) - A A$480 million
($373 million) refinancing loan for Australia's Dampier to
Bunbury natural gas pipeline will finalise later on Thursday, a
banking source familiar with the deal said.

The loan comprises a A$264 million three-year tranche
paying a margin of 325 basis points and a A$216 million
five-year tranche paying 375bp, according to two other banking
sources.

The upfront fees range between 165bp and 200bp, depending
on lenders' final commitments, the sources said. The borrowing
vehicle, DBNGP Finance Co Pty Ltd, has a BBB-minus credit
rating from Standard & Poor's.

Infrastructure fund Diversified Utility & Energy Trusts
(DUET) (DUE.AX), which owns the pipeline, has said that eight
banks participated in the deal, which provides financing for
stage 5A development of the pipeline.

The banks are Bank of Tokyo-Mitsubishi UFJ (8306.T),
Barclays Capital (BARC.L), BBVA (BBVA.MC), Calyon (CAGR.PA),
Commonwealth Bank of Australia (CBA.AX), Macquarie Bank
(MQG.AX), National Australia Bank (NAB.AX) and Westpac Banking
Corp (WBC.AX).

AMP Capital Investors (AMP.AX) and Macquarie Capital
Advisers advised on the deal.

DUET declined to comment, while AMP Capital Investors did
not return calls seeking comment.
($1=1.285 Australian Dollar)
(Reporting by Sharon Klyne)