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Incitec Pivot Ltd Signs Syndicated Banking Facility

Sunday, 25 Aug 2013 07:06pm EDT 

Incitec Pivot Ltd announced that it has entered into a new Syndicated Bank Facility of $1.45 billion. The facility, which will replace the syndicated bank facility entered into in March 2011, is split into a three year $850 million tranche, maturing in October 2016, and a five year $600 million tranche, maturing in September 2018. The new facility was self arranged and will replace the $900 million syndicated facility entered into in March 2011, as well as the $250 million bilateral facilities entered into in December 2012. The increase in overall facility limits will provide surplus committed undrawn funding capacity, in line with prudent debt capital management. This refinancing follows IPL's inaugural $200 million Australian Medium Term Note issuance on August 14, 2013, which matures in February 2019. 

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0.05 +1.24%
31 Mar 2015