To date, the company has withdrawn around $138.7 million and not paid any interest, according to its latest quarterly report.
Wollongong Coal has also been working with its existing consortium of banks to obtain a Foreign Currency Term Loan of $US630 million in two tranches – to repay existing loans and to part-finance capital expenditures.
To date, $225.21 million has been disbursed by a few of the lenders to the company through Jindal Steel & Power Australia.
Funds were used to repay existing loans, which were classified as current liabilities. The company continues to work with remaining lenders over their contributions.
Forty bonds with face value of $50,000 each have been redeemed by the company.
One million directors’ options with exercise price of $0.60/share and 200,000 employee options with an exercise price of $0.50/ share expiring on 31 December 2015 have now been lapsed.
