Int'l Power refinances debt in Australia

Electricity generating group International Power has announced that is has refinanced its debt facilities at the Hazelwood and Loy Yang B power plants in Australia.

The group, 70%-owned by French power titan GDF SUEZ, says that the A$652m (around £420m) of debt at its 1,542MW Hazelwood plant will be repaid from GDF's corporate resources.

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The current facility for the plant will be repaid on June 29th.

Meanwhile, the debt at its 955MW Loy Yan B plant, co-owned with partner Misui & Co, has been refinanced with a syndicate of banks, which provided project finance debt of A$1.06bn (£0.68m) with a tenor of five years, maturing on June 30th 2017.

"The refinancing of both facilities was completed in a challenging environment of continuing regulatory uncertainty around energy and carbon policy," the company said.

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