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Friday, 15 October 2010

SOUTH Australian oil and gas major Santos has raised another $420 million in funding for its Gladstone liquefied natural gas project.

The new funding through the Euro hybrid market brings the total amount of hybrid capital raised by Santos in the market to more than $1.4 billion since September this year.
The follow-on issue represents another significant step towards funding Santos' share of the GLNG project, with a planned final investment decision before the end of the year.
Santos executive vice-president and CFO Peter Wasow said the follow-on hybrid issue demonstrates Santos' strong reputation in the capital markets and its commitment to maintain an efficient capital structure.
"Given the strong support received for our initial hybrid issue in September, we received significant demand from investors for a follow-on issue.''

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