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APA Continues to Proactively Manage Debt Portfolio With Note Tender
Published on
17 May 2024
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Leading Australian energy infrastructure business APA Group (ASX:APA) has received buy back acceptances from holders of 63% of its GBP 350,000,000 Guaranteed Notes due November 2024.

The tender was positively received, allowing APA to buy back a total of approximately GBP 221 million (AUD 344 million) of the Notes. The outstanding GBP 129 million (AUD 192 million) Notes will be redeemed at maturity on 26 November 2024.

The tender offer was funded from cash reserves.

APA Group CFO Garrick Rollason said APA would benefit from repaying the Notes six months ahead of their maturity with the swapped cost in AUD on the Notes being 7.36%.

“Following this buy back, we are well positioned to manage future refinancings that mature in the next 12 months, while also reducing our finance costs. We will continue to take a disciplined approach to capital management and ensure we are allocating free cash flow to initiatives that create the most value for our securityholders,” Mr Rollason said.