BG Group secures 1.8bn dollar loan

BG Group, the FTSE 100 gas giant, has secured a loan worth 1.8bn dollars from the Export-Import Bank of the US.

The loan has been taken to both diversify its funding plans and 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.

In a statement the group said the loan is the latest source of funding secured via the group's active treasury programme which helps to underpin the delivery of its key growth projects.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

In November BG signed a new $3.0bn syndicated facility, taking the total of undrawn committed bank borrowing facilities to $5.2bn. In September, the group eached an agreement with Japan Bank for International Cooperation (JBIC) aimed at supporting the long-term supply of liquefied natural gas to Japan.

The share price edged 0.05% higher to 1,008.50p.

NR