LNC Announces Closing of USD265M Senior Notes Offering
LNC Announces Closing of USD265M Senior Notes Offering

Brisbane, Oct 15, 2012 AEST (ABN Newswire) - Linc Energy Ltd (googlechartASX:LNC) (OTCQX:LNCGY) today announced that on 12 October 2012 (9am US EST/11pm Australian EST) it closed its previously announced private offering of an aggregate principal amount of USD265 million senior secured notes due in 2017 (the "Notes").

The Notes, which were oversubscribed, were issued by the Company's wholly-owned subsidiaries Linc USA GP and Linc Energy Finance (USA), Inc. (the "Issuers"), will bear interest at 12.5% per annum, are due in October 2017 and will have an issue price of 96.402% of their face amount, resulting in net proceeds of approximately USD255.5 million before fees. The net proceeds will be used to fund capital expenditures, repay existing debt and for general corporate purposes. The Notes contain no equity component, are secured by the Company's US Oil & Gas assets, and are fully non-recourse to Linc Energy Ltd.

The Notes were offered in a private placement by the Issuers and will not be registered under the Securities Act of 1933, as amended (the "Securities Act") or applicable state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.

This announcement does not constitute an offer to sell or a solicitation of an offer to buy any of the Notes or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

Contact

Linc Energy Limited
T: +61-7-3229-0800
F: +61-7-3229-6800
WWW: www.lincenergy.com.au



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