Other Debt

Details on our other debt, including borrowings and other financial liabilities


Rio Tinto Other Debt amounts to $6.4 billion as of 31 December 2019 which is funding at the business unit or asset level. This is largely driven by Oyu Tolgoi which has $4.2 billion in project financing. In addition, there is $0.9 billion of other secured or unsecured debt at the business unit or asset level and a further $1.3 billion of lease liabilities held on balance sheet under IFRS 16.

Borrowings and Other Financial Liabilities 

Borrowings at 31 December 2019
US$m

Oyu Tolgoi LLC MIGA Insured Loan LIBOR plus 2.65% due 2027 (1)

679

Oyu Tolgoi LLC Commercial Banks "B Loan" LIBOR plus 3.4% due 2027 (1)

1,589

Oyu Tolgoi LLC Export Credit Agencies Loan 2.3% due 2028 (1)

276

Oyu Tolgoi LLC Export Credit Agencies Loan LIBOR plus 3.65% due 2029 (1)

874

Oyu Tolgoi LLC International Financial Institutions "A Loan" LIBOR plus 3.78% due 2030 (1)

775

Other secured loans

347

Other unsecured loans

579

Lease liabilities

1,309

Bank overdrafts

0

  1. These borrowings relate to the Oyu Tolgoi LLC project finance facility. The project finance facility provides for interest-only payments for the first five years followed by minimum repayments according to a stepped amortisation schedule for the remaining life of the facility. The due dates stated represent the final repayment date. The interest rates stated are pre-completion and will increase by 1% post-completion.