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(Full text of a statement. Contact details below.)
HOUSTON--(BUSINESS WIRE)--March 30, 2007--Ashmore Energy International ("AEI") announced today that it completed the refinancing of its senior debt.
The new facilities consist of a USD 1 billion 7-year term loan and a 5-year USD 500 million revolving credit facility.
The new facilities refinance AEI's USD 1.0 billion senior and bridge loans, improve duration and provide the company with cost effective liquidity for growth projects and general corporate purposes.
The facilities were rated Ba3 / B+ / BB by Moody's Investor Service, Standard & Poor's and Fitch Ratings, respectively.
The new facilities were fully underwritten by Credit Suisse and JP Morgan.
"I am pleased with the success of this transaction and the flexibility this brings to the AEI capital structure.
Source: HighBeam Research, ASHMORE ENERGY INT'L COMPLETES REFINANCING OF US$1 BLN SENIOR DEBT.