THE owners of Wiggins Island Coal Export Terminal have received an eight-year respite on debt repayments, which some feared would lead to the facility’s demise.
A New South Wales Court has given the go-ahead to a $3.5billion refinancing plan, hoped to help the miner owners handle its senior debt.
The deal comes ahead of the September 30 deadline when Glencore, Aquila Resources, New Hope Group, Coronado Curragh and Yancoal had to begin repayments or refinance the debt.
The group will now have the maturity of $3.5billion in senior debt extended until September, 2026.
Allens partner Nick Adkins, who has been involved in the legal representation of the 23 senior lenders since 2010, said the result showed there was su…
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