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NEWS

10:28 AM, 26 May 2008

Downer EDI finishes $390m refinancing

By a staff reporter

Downer EDI has completed refinancing of its oversubscribed Australian dollar syndicated loan facility.

"We are delighted to confirm that we have refinanced $390 million whilst effectively increasing the maturity profile of the facility. It equates to a refinancing of 34 per cent of our total debt facilities," chief financial officer Peter Reichler said.

"The deal was supported by the Group's domestic and international relationship banks, and we are comfortable with the pricing which is in line with current market rates," Mr Reichler said.

The engineering and infrastructure management company also announced it has maintained its external credit rating of "BBB-" with Fitch Ratings.

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