Ampol Secures $400M Debt Refinancing From KKR
Synopsis
The company has refinanced subordinated debt through KKR's private credit platform, extending its funding profile and replacing notes due in 2027 and 2028.
Australian fuel retailer Ampol has completed the refinancing of its A$400 million portfolio of hybrid securities, via a facility for long-term funding led by KKR's private credit and insurance platforms through a delayed draw subordinated notes structure.
The A$400 million facility will support Ampol's larger capital management program and general corporate purposes, with closing due July 2026. It is divided into two tranches: the first aligned to Ampol's next dated debt service call, and the second aimed at extending its funding profile.
Funding Timed to Future Debt Maturities
The first tranche of A$250 million will be available until March 31 2027 to fund the callable subordinated notes which will be callable in March 2027. The second tranche of A$150 million will be available until June 30 2028 and will refinance the sustainability-linked subordinated notes callable in June 2028.
The subordinated notes, under Moody's methodology can receive a 50% equity credit in a credit assessment and are to carry a 12-year non-call period, with a final maturity in 2058. The capital provided by the financing is available for equity purposes under the credit methodology.
KKR said that financing was provided through its private credit and insurance businesses and represents a custom capital solution for Ampol. This comes against a backdrop of the rise of private credit as an increasingly important source of company funding; the IMF estimated global private credit assets at around US$2.1 trillion and sees Asia Pacific a major destination for institutional investment.
The refinancing occurs following the reporting of Ampol’s FY2025 financial results, where the Australian fuel marketer reported revenue of A$31.37 billion and statutory net profit after tax of A$136.6 million. It forms part of Ampol’s ongoing management of its capital structure ahead of debt maturities in 2027 and 2028.
Source: Capital Brief
Follow Inspirepreneur Magazine for daily global business news.
Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
You Might Also Like
National Australia Bank job cuts reduce 170 roles in Australia
Netflix founder Reed Hastings exits as company seeks next growth phase
