Yancoal pre-pays $US450M in loans to reduce existing debt liabilities

Company News

by Anna Napoli

Yancoal (ASX:YAL) has today pre-paid $US450 million in loans to Bank of China and China Construction Bank under its Syndicated Facility Agreement.

The move will enable the company to reduce its existing debt liabilities.

The coal miner made a payment of $150 million last year which takes its total payments to $600 million, since the acquisition of Coal & Allied Industries from Rio Tinto last year.

Yancoal says the company continues to take decisive actions to strengthen its balance sheet.

Shares in Yancoal (ASX:YAL) closed flat at 14 cents yesterday.
 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.