BG Group Secures $1.8bn US Ex-Im Loan
BG Group today announced that it has secured a $1.8 billion loan from the Export-Import Bank of the United States (US Ex-Im). The loan, which marks further progress in the Groupís funding diversification plans, is also designed to support the export of US services and equipment for the ongoing delivery of the Queensland Curtis LNG project in Australia which is on schedule for first gas in 2014.
The US Ex-Im loan is the latest source of funding secured via the Groupís active treasury programme which helps to underpin the delivery of its key growth projects. Only last month BG Group agreed a new $3 billion syndicated facility, taking the total of undrawn committed bank borrowing facilities to $5.2bn, and in September 2012 reached an agreement with Japan Bank for International Cooperation (JBIC) aimed at supporting the long-term supply of liquefied natural gas to Japan.
In addition to this, since October 2011 $7.7 billion has been raised from capital markets, including the successful issuance of $2.1 billion in hybrid bonds. The Group 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.
Notes to Editors:
About BG Group:
BG Group plc (LSE: BG.L) is a world leader in natural gas, with a strategy focused on connecting competitively priced resources to specific, high-value markets. Active in more than 20 countries on five continents, BG Group has a broad portfolio of exploration and production, Liquefied Natural Gas (LNG) and transmission and distribution business interests. It combines a deep understanding of gas markets with a proven track record in finding and commercialising reserves.
For further information visit: www.bg-group.com
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