Yancoal secures $US250 million loan

Group reaches deal with major shareholder Yanzhou for long-term facility.

Yancoal Australia (YAN) has reached an agreement with major shareholder Yanzhou Coal Mining Company Limited for a $US250 million long-term loan facility.

In a statement to the Australian Securities Exchange, Yancoal said the facility has a term of five and a half years, with the principal to be repaid in full at maturity.

The loan is unsecured with no covenants.

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