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.


Community rallies behind house fire victims

Community rallies behind house fire victims

A go Fund Me Page has been created to help the family

Alleged drugged highway driver to face court

Alleged drugged highway driver to face court

Man charged with disqualified driving

Man uses 'firearm' in Springfield bottle shop robbery

Man uses 'firearm' in Springfield bottle shop robbery

He demanded money and stole a bottle of alcohol from a shelf.

Local Partners