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Whitehaven Coal Limited : Annual Report 2012
Whitehaven Coal Limited -- Annual Report 2012 115 NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2012 23. INTEREST-BEARING LOANS AND BORROWINGS This note provides information about the contractual terms of the consolidated entity's interest-bearing loans and borrowings. Consolidated In thousands of AUD 2012 2011 Current liabilities Finance lease liabilities 15,173 15,169 Secured bank loans 13,944 -- Unsecured bank loans 265,299 -- Other loans unsecured -- 34,267 294,416 49,436 Non-current liabilities Finance lease liabilities 68,328 82,827 Secured bank loans -- 46,330 Unsecured bank loans 126,702 -- 195,030 129,157 Total interest-bearing liabilities 489,446 178,593 Financing facilities Secured bank loans 13,944 95,595 Unsecured bank loans 887,540 -- 901,484 95,595 Facilities utilised at reporting date Secured bank loans 13,944 46,330 Unsecured bank loans 392,001 -- 405,945 46,330 Facilities not utilised at reporting date Secured bank loans -- 49,265 Unsecured bank loans 495,539 -- 495,539 49,265 Financing facilities In August 2011, the consolidated entity refinanced its existing bank facility with a series of unsecured bilateral facilities with credit lines of $350m and a five year tenor, and also transitioned existing secured banking facilities to the same unsecured terms. The consolidated entity expanded its debt facilities in December 2011 with an additional unsecured facility with credit lines of $450m and a one year tenor. As a result of the acquisition of Coalworks Limited, the consolidated entity inherited a bank facility of $13.9m which is secured over land of the same value. This facility matures in October 2012. Finance lease facility At 30 June 2012, the consolidated entity's lease liabilities are secured by the leased assets of $83,480,000 (2011: $107,382,000), as in the event of default, the leased assets revert to the lessor.
Annual Report 2011
Annual Report 2013