December 31, 2012 / 10:30 AM / in 5 years

UPDATE 1-BG gets $1.8 bln loan from U.S. Export-Import Bank

LONDON, Dec 31 (Reuters) - Britain’s BG Group said on Monday it had secured a $1.8 billion loan from the Export-Import Bank of the United States, as part of a wider push to diversify its funding options to support major projects.

BG, which announced Chris Finlayson as its new chief executive earlier this month, recently agreed a new syndicated facility, reached an agreement with the Japan Bank for International Cooperation and raised money via capital markets.

It said it now had undrawn committed bank borrowing facilities of $5.2 billion.

It has also reached an initial agreement with Brazilian Development Bank for up to $1.8 billion of new funding and signed a $500 million credit agreement with Export Development Canada.

The new loan from the United States will support the export of U.S. services and also help fund equipment for the Queensland Curtis LNG project in Australia which is on schedule for first gas in 2014.

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