Yancoal Australia to prepay $1 billion of loans on Oct. 4

By Mary-Katherine Stinson

Lexington, Ky., Sept. 30 –Yancoal Australia Ltd. will prepay $1 billion of debt on Oct. 4 using available cash toward its syndicated facility and related-party loans, according to a company notice.

This will reduce total finance costs over the loan periods by about $207 million.

“Combined with debt prepayments in October 2021 and July 2022, the planned $1 billion debt prepayment results in Yancoal prepaying over $2.3 billion of debt in the last 12 months. After completing the prepayment, Yancoal will have $792 million of total debt, the majority of which is $301 million due in 2024 and $307 million due in 2026, respectively. The debt maturity profile is substantially improved after the prepayment, with the debt expiry date more evenly distributed in the next five years,” Yancoal chief executive officer David Moult said in the press release.

Yancoal Australia is a Sydney, Australia-based coal company.

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