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Ashmore Energy International Completes Refinancing of USD 1.0 Billion Senior Debt and Raises USD 500 Million Revolving Credit Facility.


HOUSTON -- 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. Accessing the debt capital markets for these two new facilities is a significant milestone as we have demonstrated our ability to strengthen and diversify our debt composition," John Fulton, Chief Financial Officer of AEI commented on the success of the transaction.

AEI owns and operates essential energy infrastructure in emerging markets. AEI manages interests in a group of 19 energy assets (27 assets including Promigas' subsidiaries) with operations in 14 countries and more than USD 2.5 billion in revenues and 9,800 employees. The Company serves approximately 8 million customers worldwide by operating through three business segments: Natural Gas Distribution, Transportation and Services; Power Distribution; and Power Generation with approximately 37,000 km of gas and liquids pipelines, 120,000 km of power transmission and distribution lines, and a gross installed capacity of 1,675 MW. You can visit the AEI website at www.ashmoreenergy.com.

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Publication:Business Wire
Date:Mar 30, 2007
Words:262
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