Woodside taps US bond market again

The producer of Australia's second largest oil and gas stated on Wednesday that Woodside has made itself involved into an agreement for the issuance of $A772.9 million ($US700 mllion) in corporate bonds into the United States 144A bond market.

Short-term debts and expenditure for general corporate purposes including capital expenditure would be paid using the funds raised from the issuance.

As Woodside constructed the beginning stage of its Pluto liquefied natural gas project which is nearing completion in Western Australia's Pilbara region, it raised capital from 2 separate bond issues earlier this year.

Also, as a part of a non-core asset divestment program, Woodside had agreed to sell off its Otway has project offshore from Victoria to Origin Energy Ltd just this week for a total of $713 million.

Broker Stock Resource explained said on Wednesday in a research note that the company would be able to reduce its debt during the current period of high capital expenditure with the sale of Otway.

Lastly, with a closing at $47.22, the shares in Woodside experienced a 48 cents fall.