Other Debt
Details on our other debt, including borrowings and other financial liabilities
Rio Tinto Other Debt amounts to $6.2 billion as of 30 June 2020 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 $0.8 billion of other secured or unsecured debt at the business unit or asset level and a further $1.2 billion of lease liabilities held on balance sheet under IFRS 16.
Borrowings and Other Financial Liabilities
Borrowings at 30 June 2020 |
US$m |
|
Oyu Tolgoi LLC MIGA Insured Loan LIBOR plus 2.65% due 2027 (1) |
680 |
|
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) |
277 |
|
Oyu Tolgoi LLC Export Credit Agencies Loan LIBOR plus 3.65% due 2029 (1) |
875 |
|
Oyu Tolgoi LLC International Financial Institutions "A Loan" LIBOR plus 3.78% due 2030 (1) |
778 |
|
Other secured loans |
330 |
|
Other unsecured loans |
523 |
|
Lease liabilities |
1,175 |
|
Bank overdrafts |
15 |
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.