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ARTICLE · 14 MAY 2013

Australian Energy Sector Update: May 2013 Edition

Corrs Chambers Westgarth
Corrs Chambers Westgarth
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A brief summary of information on deals, market rumours and potential opportunities, and relevant regulatory updates.

AustraliaEnergy and Natural Resources
Michael MacGinley
Michael MacGinley
Bruce Adkins
Bruce Adkins
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Introduction

Welcome to the May 2013 edition of the Australian Energy Sector Update, a monthly publication prepared by Corrs Chambers Westgarth for clients who are interested in the Australian energy industry.

This publication brings together a brief summary of information on recently completed deals, market rumours and potential opportunities, and relevant regulatory updates.

Recent announcements

On 28 March 2013, ASX-listed Linc Energy announced the successful completion of a US$200m bond issue. The bonds, with a five-year maturity date, are convertible into ordinary shares - although Linc has the option to cash settle the bonds to prevent shareholder dilution. The funds raised from the bond issue will be used for working capital purposes, to support the commercialisation of the company's key assets, and to pay down debt.

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