Australia’s Origin Energy is seeking to raise $1.05 billion from hybrid securities, Reuters reports. The proceeds will be used to fund a liquefied natural gas project in Queensland state without risking its credit rating.
Origin and ConocoPhillips each own 42.5% of the $37.1 billion project with the rest held by China’s Sinopec. Sinopec acquired the stake and signed a gas purchase agreement worth around $85 billion.
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