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Whitehaven Coal Limited : Annual Report 2013
151 Whitehaven Coal Limited Annual Report 2013 Notes to the Financial Statements 30 June 2013 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 2013 2012 Current liabilities Finance lease liabilities 16,995 15,173 Secured bank loans 8,247 13,944 Unsecured bank loans -- 265,299 25,242 294,416 Non-current liabilities Finance lease liabilities 62,357 68,328 Secured bank loans 494,481 -- Unsecured bank loans -- 126,702 556,838 195,030 Total interest-bearing liabilities 582,080 489,446 Financing facilities Secured bank loans 1,057,728 13,944 Unsecured bank loans -- 887,540 1,057,728 901,484 Facilities utilised at reporting date Secured bank loans 502,728 13,944 Unsecured bank loans -- 392,001 502,728 405,945 Facilities not utilised at reporting date Secured bank loans 555,000 -- Unsecured bank loans -- 495,539 555,000 495,539 Financing facilities On 21 December 2012 the Company entered into a A$1.2 billion Senior Secured Bank Facility. The facility has a four year tenor and provides Whitehaven with lines of credit up to A$1.2 billion comprising A$1.0 billion revolving and term facility, and A$0.2 billion guarantee facilities. This facility was used to replace the Company's existing bank facilities. During the period an amount of $445 million was drawn down under the new facility, of which $325 million was used to repay debt drawn on the old facilities, In addition $10 million was drawn down under nance leases. Other loans of $23 million were repaid during the period. Finance lease facility At 30 June 2013, the consolidated entity's lease liabilities are secured by the leased assets of $71,386,000 (2012: $83,480,000), as in the event of default, the leased assets revert to the lessor.
Annual Report 2012