The debt program, which was arranged by the National Australia Bank and Salomon Smith Barney will include medium-term bonds and short-term bonds as well as electronic promissory notes up to a value of $1 billion. Rating agency Standard and Poor's have rated the medium-term debt a BBB+ while short term debt is rated A-2.
Origin Energy is planning to build a $250 million, 680km gas pipeline between South Australia and Victoria, as well as participate in the $400 million Yolla gas field development in the Bass Strait, off the Victorian coast.
Last year the Sydney-based company reported a profit of $98 million on sales of $1.7 billion. After the announcement of the debt program, Origin's share price rose was up 2c to finish at $2.77.
