DBJ Participates in a Syndicated Loan to Loy Yang PowerDBJ’s First Loan in Australian Dollars

DBJ announces that it has participated in a syndicated loan facility totaling AUD 455 million for Loy Yang Power (LYP), an electric power company based in Australia. As the New Japanese Lenders Co-ordinating Bank, DBJ contributed AUD 150 million to the facility, which will serve to refinance an existing tranche of senior debt. Two other Japanese banks have joined with existing lenders to participate in the facility.

LYP is the operator of a 2,195MW brown coal-fired power station, the largest in the State of Victoria and the third largest in Australia. The power station, which supplies approximately 30% of the state’s electricity needs, has continually recorded high levels of production and reliability, and supports the local economy as a base-load power plant. LYP also operates the largest brown coal open cut mine in the Southern Hemisphere, mining approximately 32 million tonnes of coal per annum which when converted to electrical energy is sufficient to supply approximately 50% of the state’s needs.

LYP is 32.5% owned by Tokyo Electric Power Company (TEPCO), and one of DBJ’s aims in taking part in this loan is to support TEPCO’s power projects overseas. DBJ has drawn on the wealth of expertise it has accumulated in the energy and environment sectors and its networks in carrying out this project.

DBJ is committed to providing integrated investment and loan services to meet the needs of clients both in and out of Japan while supporting the growth and development of a wide range of sectors, including energy and environment. This is a goal which accords well with the DBJ corporate philosophy: “Designing the future through innovative finance: Using creative financing techniques to resolve customer issues, DBJ works with customers to earn their trust and build a prosperous future.”

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