WICET coal loader

Photo Contributed
WICET coal loader Photo Contributed Contributed

WICET lenders make counter-proposal to tackle debt

THE owners of Wiggins Island Coal Export Terminals have been dealt a new refinancing proposal from the facility's senior lenders who are owed $3.8 billion.

The proposal includes deferring the payment to junior lenders ($375 million) but the arrangement for senior lenders would remain the same, The Australian reported.

Last week, lenders rejected a proposal from WICET owners to extend the refinancing date by five years, as it scrambled to find a way to repay its debt or change contractual agreements before September.

Meanwhile Aurizon is continuing to consider a deal to purchase the Queensland facility.

An Aurizon spokesperson told The Observer the rail company was "watching the refinancing situation closely".

WICET is owned by miners Glencore, Yancoal, Aquila Resources and now Coronado Coal after it bought the Curragh coalmine from Wesfarmers.


Roma fun day lives up to name

Roma fun day lives up to name

Roma Fun Day raises vital funds.

Driver thrown from ute during rollover

Driver thrown from ute during rollover

18-year-old flown to Toowoomba Hospital.

The Echidnas hold on for first victory

The Echidnas hold on for first victory

Echidnas claim first win

Local Partners