Woodside secures $1.4bn loan

Woodside Petroleum has executed a $US1.1 billion ($A1.4 billion) syndicated loan facility with 26 domestic and international banks.

Australia and New Zealand Banking Group and The Bank of Tokyo-Mitsubishi UFJ were joint coordinating arrangers of the syndicated loan, which has a term of three years.

Funds from the loan will be used for capital expenditure and general corporate purposes.

This US$1.1 billion loan facility follows a successful US$1 billion US bond issue in February 2009.

On a portfolio basis in US dollar terms, the current cost of Woodside's debt is around 4 per cent per annum.