Yancoal secures debt facility

Yanzhou to provide $US300m facility, to be used to fund working capital.

Yancoal (YAL) has struck a deal with major shareholder Yanzhou Coal Mining Company Limited for a $US300 million ($A329.49m) long-term debt facility to fund working capital and capital expenditure.

Yancoal said the first tranche of $US100m has a term of six years and is provided on an unsecured basis with no covenants.

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