Origin Energy Limited (ASX:ORG) has announced the successful pricing and allocation of a €1 billion
hybrid capital issuance.
The energy producer expects the hybrid will be awarded 50 per cent equity credit for ratings purposes from Standard & Poor's and Moody's.
Origin says the issuance of these hybrid securities will complete the company’s financing associated with the acquisition of interests in two exploration permits.
The company last month tied-up the purchase of permits located in Western Australia's Browse Basin from Karoon Gas Australia Limited
(ASX:KAR).
Origin will deploy additional funds raised to general corporate purposes.
Origin Energy boosted its net profit to $638 million in the 2014 financial year.
