How does the size of the underwrite now compare to what was last approved.
510M vs 251M
What are the facilities
800M partially amortising 5 year term facility and a $100M capex facility
Why is an eCRS 11 supported
Rating of Perform system
What is the Glencore ROE
21.8%
Which banks have received credit approval?
ANZ, SMBC and DBS
Where does Coal & Allied rank ?
2nd
How much of MT does C&A own?
80%
How much does C&A own of Warkworth?
55.6%
How much of PWCS does C&A own
38.4%
Who owns the remaining interests in HVO and Warkworth?
Mitsubishi
Who owns the remaining interest in Mt Thorley
POSCO
Who owns the remaining interest in Mt Thorley
POSCO
What is the proposed eCRS?
11G
what FX rate has been assumed
0.75
Note: if coal prices fall it would be expected that so to would the FX rate?
What is the average annual production from thermal and SSCC?
13Mt Thermal Coal
4Mt SSCC
What is the forecast price for Thermal Coal
FY17 56
FY18 58
FY19 58
FY20 62
What is the forecast price for SSCC?
FY17 68
FY18 69
FY19 71
FY20 72
What % of production is Thermal Coal?
~75%
What are the components of debt reduction over the facility term?
$199M (Cash Share)
$200M (scheduled amort)
Dont forget the contingent liquidity of $200M
Describe the debt profile over time?
Starts at 800 and falls by 400M from amort (200m) and cash share (200M) but increases by 100M due to capex resulting in 500M at maturity.
What about the threat of renewables?
- Traditional markets of Japan, Korea and Taiwan dont have the land mass for large scale renewables
- Limitation of penetration due to network constraints
- Best wind/solar sites are developed first
Which banks are included in the MLA group?
NAB, ANZ, DBS, HSBC, Mizuho, SMBC and Standard Chartered
Why is hunter coal so special?
High Energy, Low Ash, Low Sulphur
What about the threat of renewables?
- Traditional markets of Japan, Korea and Taiwan dont have the land mass for large scale renewables
- Limitation of penetration due to network constraints
- Best wind/solar sites are developed first
