Clouds grow over Bank of China's Yancoal loan
Peter KerResources reporter
Acquisitive miner Yancoal appears increasingly unlikely to receive a promised cash injection from a subsidiary of Bank of China, after the subsidiary missed its second deadline to provide a $US175 million loan on Friday.
Known as BOCI Financial Products, the subsidiary promised to lend $US375 million to Yancoal in February 2016 to help provide the ASX-listed miner with working capital through the bottom of the coal price cycle.
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Peter Ker covers resource companies for The Australian Financial Review, based in Melbourne. Connect with Peter on Twitter. Email Peter at pker@afr.com
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