Yancoal Australia to prepay $459 million of loans on Dec. 16

By Mary-Katherine Stinson

Lexington, Ky., Dec. 9 –Yancoal Australia Ltd. will fully repay its syndicated facility and related loans with an early repayment of $459 million on Dec. 16 using available cash, according to a company notice.

This will reduce total finance costs over the loan periods by about $91 million.

After completion of the repayment, Yancoal will have only a $333 million syndicated term loan, of which $301 million is due in 2024 and $32 million due in 2026.

“Combined with debt prepayments in October 2021, July 2022 and October 2022, the planned $459 million debt prepayment will result in Yancoal having prepaid over $2.75 billion of debt in the last 15 months,” Yancoal chief executive officer David Moult said in the press release.

Moult stated in the press release that the debt repayments were made possible by elevated coal prices which has provided the company with substantial cash inflows.

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

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