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Whitehaven Coal Limited : Annual Report 2009
Whitehaven Coal Limited -- Annual Report 2009 81 NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2009 23. INTEREST-BEARING LOAN S AND BORROWINGS (CONTINUED) Financing arrangements Bank loans Bank loans were repaid during the year ended 30 June 2008. The loan attracts interest at the quarterly 'BBSY' rate plus 1.5%. The bank loans were secured by registered first mortgages over a number of the consolidated entity's freehold properties, certain items of property, plant and equipment, cash deposits, trade receivables and guarantees from related parties. The carrying values of the pledged non-current assets were as follows: Consolidated Company In thousands of AUD 2009 2008 2009 2008 Freehold land 41,655 31,499 -- -- Property, plant and equipment 409,424 290,626 -- -- 451,079 322,125 -- -- Finance lease facility At 30 June 2009, the consolidated entity's lease liabilities are secured by the leased assets of $57,759,000 (2008: $45,693,000), as in the event of default, the leased assets revert to the lessor. The Company did not have any lease liabilities at 30 June 2009 (2008: nil). Finance lease liabilities Finance lease liabilities of the consolidated entity are payable as follows: Consolidated In thousands of AUD Minimum lease payments 2009 Interest 2009 Principal 2009 Minimum lease payments 2008 Interest 2008 Principal 2008 Less than one year 16,064 4,210 11,854 10,586 2,845 7,74 1 Between one and five years 51,971 7,124 44,847 34,644 5,284 29,360 More than five years -- -- -- 2,928 21 2,907 68,035 11,334 56,701 48,158 8,150 40,008
Annual Report 2008
Annual Report 2010