Australia and OceaniaCorporate

Australia’s Santos to secure $850 million via bond offering

By LNG Prime Staff
Australia's Santos to secure $850 million via bond offering
GasLog Savannah at the PNG LNG jetty (Image: Santos)

Australian LNG player Santos will secure $850 million via a debt offering in the US dollar bond market.

Santos said in a statement on Tuesday it has conducted a debt offering and successfully priced a $850 million senior unsecured fixed rate bond transaction in the US dollar 144A/RegS market.

The bonds will be issued by Santos Finance, a wholly owned unit of Santo, while the company plans to use the proceeds for general corporate purposes.

Also, Santos said the bonds have been priced at a fixed coupon of 6.875 percent for a period of 10 years, maturing in September 2033.

Managing director and CEO, Kevin Gallagher, said this transaction is an “excellent result” for Santos.

“This demonstrates continuing strong support from the capital markets and ensures our balance sheet is well positioned to deliver on our strategy,” Gallagher said.

Settlement of the bonds is expected to occur on September 19, New York time, and remains subject to customary closing conditions, Santos said.

Santos reported a 37 percent drop in its first-half profit due to lower oil and gas prices.

Underlying profit dropped to $801 million in the January-June period of this year from $1.27 billion in the same period in 2022.

Santos reported record profit in 2022 due to high LNG prices and increased PNG LNG position after the merger with Oil Search.

Most Popular

Vessels

Nakilat says no one injured after LNG carrier attack

Qatari LNG shipping giant Nakilat said that no one was injured after its 266,000-cbm Q-Max LNG carrier Al Mayeda was hit by "unidentified objects" while transiting the Arabian Gulf on Friday evening.
LNG Terminals

ExxonMobil boosts Rovuma LNG stake

US energy giant ExxonMobil has increased its stake in the planned Rovuma LNG project in Mozambique through a deal with Italy's Eni, while the company still targets a final investment decision by the end of this year, according to ExxonMobil CEO Darren Woods.
LNG Terminals

Technip Energies ready to hand over first NFE LNG train to QatarEnergy

French LNG engineer Technip Energies is ready to hand over the first train of the North Field East LNG project in Qatar to state-owned LNG giant QatarEnergy, while the second train has already started commissioning, according to Technip Energies CEO Arnaud Pieton.

More News Like This

Corporate

Santos reports record quarterly production

Australian LNG player Santos reported record quarterly production of 26.3 mmboe in the third quarter, while Barossa feed gas to Darwin LNG also hit a new record peak of about 600 mmscf per day.
Contracts and Tenders

Australia’s Santos strengthens LNG portfolio with new deals

Australian LNG player Santos has signed two separate, non-binding LNG agreements that underscore the company’s growing global LNG portfolio position. Santos entered into a non-binding heads of agreement to buy LNG from the Ksi Lisims LNG project in Canada and the company agreed key commercial terms with South Korea's Posco Steel to supply the latter with LNG.
Corporate

Australia’s Santos kicks off drilling of first Beetaloo appraisal well

Australian LNG player Santos on Tuesday announced the spudding of its first appraisal well in the Beetaloo Basin, marking a "major" milestone towards unlocking a new source of long-term gas supply for Australian households, businesses, and industry.
LNG Terminals

TotalEnergies to transfer Papua LNG operatorship to ExxonMobil

French energy giant TotalEnergies said on Monday that Papua LNG has achieved "major" contractual and commercial milestones, marking "decisive" steps towards a final investment decision. These include completing the EPC tendering process and transferring Papua LNG operatorship to US energy giant ExxonMobil, operator of the PNG LNG project.