Other Debt
Details on our other debt, including borrowings and other financial liabilities
Rio Tinto Other Debt amounts to $6.5 billion as of 30 June 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 $1.1 billion of other secured or secured debt at the business unit or asset level and a further $1.2 billion of lease liabilities held on balance sheet under IFRS 16.
Borrowings and Other Financial Liabilities
Borrowings at 30 June 2019 |
US$m |
|
Oyu Tolgoi LLC MIGA Insured Loan LIBOR plus 2.65% due 2027 (1) |
677 |
|
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) |
275 |
|
Oyu Tolgoi LLC Export Credit Agencies Loan LIBOR plus 3.65% due 2029 (1) |
873 |
|
Oyu Tolgoi LLC International Financial Institutions "A Loan" LIBOR plus 3.78% due 2030 (1) |
771 |
|
Other secured loans |
363 |
|
Other unsecured loans |
708 |
|
Lease liabilities |
1,201 |
|
Bank overdrafts |
4 |
-
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.