ICBC disburses $122 million AUD of $125 million AUD line of credit facility in 2015 to Yancoal Australia Limited for unspecified purposes

Project narrative

Prior to December 31, 2015, the Industrial and Commercial Bank of China (ICBC) had entered into a $125 million AUD line of credit (bank guarantee facility) with Yancoal Australia Limited — an Australia-incorporated coal mining company majority owned by Yanzhou Coal Mining — for unspecified purposes. As of December 31, 2015, $122 million AUD of this facility had been disbursed to the borrower. As security, Yanzhou Coal Mining Company Limited issued a corporate guarantee for $100 million AUD of the facility. Yancoal Australia provided cash collateral of a $2.5 million AUD deposit on $25 million AUD of the facility, included in restricted cash.