debt investors information
This Debt Investor section provides an overview of APA Group's debt profile, liquidity and debt metrics as at 30 June 2021, in line with APA's current reporting period. All of APA’s debt facilities are structured on a senior unsecured basis with negative pledge provisions and rank pari passu with one another.
APT Pipelines Limited is APA Group’s borrowing entity which has the following investment grade credit ratings:
|1.||Standard & Poor's Long Term Rating:||BBB (Stable Outlook) unchanged since June 2009|
|2.||Moody's Long Term Rating:||Baa2 (Stable Outlook) unchanged since April 2010|
|Funds From Operations to Interest Coverage*||3.06x||3.2x||3.0x||3.0x|
|Funds From Operations to Debt*||11.0%||12.0%||10.7%||10.7%|
|Average interest rate applying to drawn debt||5.1%||5.4%||5.5%||5.7%|
|Interest rate exposure fixed or hedged||100%||100%||100%||98%|
|Average maturity of drawn senior facilities||7.8 yrs||6.4 yrs||6.8 yrs||6.9 yrs|
* APA calculations
Diversified funding from international and domestic debt capital and banking markets.
|Drawn Debt Facilities||A$9,687m|
|Drawn Bank Facilities||A$0m|
|Undrawn Bank Facilities||A$1,250m|
|Cash at Bank||A$651m|
1. The March 2015 US 144A Notes (maturing in 2025 and 2035), EUR MTN (maturing in 2027) & GBP MTN (maturing in 2030) were retained or swapped into US dollar denominated debt obligations at issuance. Please refer to the Debt capital market issuance table below for more information.
Debt maturity profile as at 30 June 2021
2. USD denominated obligations translated to AUD at the prevailing rate at inception (USD144A - AUD/USD=0.7879, EUR MTN and GBP MTN AUD/USD=0.7772).
Debt capital market issuance
Annual Coupon in Issuance Currency
Amount Issued in Original Currency
|Exposure in AUD
|Annual Interest Payable in AUD|
|US 144A Notes3||23-Mar-15||23-Mar-25||4.20%||US$1,100m||-||A$1,396m||-|
|US 144A Notes||23-Mar-17||15-Jul-27||4.25%||US$850m||A$1,109m||A$1,109m||5.29%|
|US 144A Notes3||23-Mar-15||23-Mar-35||5.00%||US$300m||-||A$381m||-|
3. The majority of the revenues to be received over 20 years from the foundation contracts on the Wallumbilla Gladstone Pipeline will be received in US dollars. The March 2015 US 144A Notes (maturing in 2025 and 2035), EUR MTN (maturing in 2027) & GBP MTN (maturing in 2030) were retained in or swapped into US dollar denominated debt obligations at issuance. These have been translated to Australian dollars at the prevailing rate at inception (US 144A Notes at AUD/USD=0.7879, EUR MTN and GBP MTN at AUD/USD=0.7772) and are being managed as a 'designated hedge' with the highly probable Wallumbilla Gladstone Pipeline US dollar revenues.
Committed bank facilities
|Syndicated Facility 1||A$500m||-||A$500m||30-Jun-23|
|Syndicated Facility 2||A$500m||-||A$500m||31-Dec-23|
• APA Group is listed as a stapled structure on the Australian Securities Exchange (ASX:APA)
• APA is a stapled structure comprising two registered managed investment schemes:
–Australian Pipeline Trust (ARSN 091 678 778)
–APT Investment Trust (ARSN 115 585 441) is a pass-through trust
• Australian Pipeline Limited (ACN 091 344 704) is the responsible entity of APT and APTIT
• The units of APT and APTIT are stapled and must trade and otherwise be dealt with together
• APT Pipelines Limited (ABN 89 009 666 700), a company wholly owned by APT, is APA’s borrowing entity and the owner of the majority of APA’s operating assets and investments
The information and materials contained in or referred to in the materials on, and accessed through, this web page (together, the “website”) in relation to APA Group and its funding programs and debt instruments is provided for information and as a matter of record only and is for distribution only to persons entitled to access this website under all applicable laws, regulations and directives in all applicable jurisdictions. The website is not addressed to any person in a jurisdiction where access to it or any use of it would result in a contravention by APA Group or any other person or entity of the laws of that jurisdiction.
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The materials and information on this website that refers or relates to securities offerings by APA Group does not constitute an offer to sell or the solicitation of an offer to buy securities as those terms are defined in the U.S. Securities Act of 1933 (the "U.S. Securities Act"). The securities offered in those offerings have not been and will not be registered under the U.S. Securities Act, and may not be offered, sold or delivered within the United States or to U.S. Persons (as defined in Regulation S under the Securities Act) absent registration under the U.S. Securities Act or an applicable exemption from the registration requirements.
The credit ratings that appear on this website are provided for use by persons who are not a retail client (as defined for the purposes of the Corporations Act 2001 (Cth)) only and must not be used, and APA Group does not intend or authorise their use, in the support of or in relation to the marketing of financial products to retail clients in Australia.