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.


FOOTAGE: emergency services rescue teen after horror crash

Premium Content FOOTAGE: emergency services rescue teen after horror crash

A SOUTH Burnett teen was trapped in her car for more than half an hour following a...

Burnett man, 27, convicted for grooming 14-year-old girl

Premium Content Burnett man, 27, convicted for grooming 14-year-old girl

A Burnett man has been placed on a good behaviour bond after he was charged for...

North Burnett to Gladstone rail trail gets $330K boost

Premium Content North Burnett to Gladstone rail trail gets $330K boost

THE development of the Boyne Burnett Inland Rail Trail is gaining speed thanks to...