AGL borrows $US300m to fund Macarthur 420 MW wind farm in Victoria's south west

First 7 of 7 paragraphs shown On completion in early 2013, the Macarthur wind farm will be the largest wind farm in the southern hemisphere, said AGL.
The plan was:
- The wind farm will comprise 140 Vestas V112-3.0 MW wind turbine generators and be constructed by a Vestas/Leighton Contractors consortium.
- The US$300 million will be converted to A$338 million at margins of 259 and 254 basis points above floating A$ bank bill swap rates for the 12 year and 15 year tranches, respectively.
- The proceeds are expected to be received in September 2010 and will be used to cancel existing bank debt facilities.
- On 12 August 2010, AGL announced that it had entered into binding contracts to construct, with its joint venture partner Meridian Energy, the 420 MW wind farm.
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