Other debt

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

Rio Tinto Other Debt amounts to $5.7 billion as of 31 December 2023 which is funding at the business unit or asset level. This is largely driven by Oyu Tolgoi which has $3.9 billion in project financing. In addition, there is $0.5 billion of other secured or unsecured debt at the business unit or asset level and a further $1.4 billion of lease liabilities held on balance sheet under IFRS 16.

Borrowings and other financial liabilities 

Borrowings at 31 December 2023

Oyu Tolgoi LLC MIGA Insured Loan SOFR plus 2.65% due 2032 (1)


Oyu Tolgoi LLC Commercial Banks "B Loan" SOFR plus 3.4% due 2032 (1)


Oyu Tolgoi LLC Export Credit Agencies Loan 4.72% due 2033 (1)


Oyu Tolgoi LLC Export Credit Agencies Loan SOFR plus 3.65% due 2034 (1)


Oyu Tolgoi LLC International Financial Institutions "A Loan" SOFR plus 3.78% due 2035 (1)


Other secured loans


Other unsecured loans


Lease liabilities


Bank overdrafts


1. These borrowings relate to the Oyu Tolgoi LLC project finance facility and the due dates stated represent the final repayment date. The interest rates stated are pre-completion and will increase by 1.2% post-completion, which is expected to happen in 2029 subject to meeting certain conditions.