Yancoal prepays $1 billion in debt, Janus Henderson chairman retires and Telstra suffers ‘data breach’
Australian coal miner Yancoal (ASX:YAL) has announced plans to prepay $1 billion in debt, which is expected to reduce finance costs by $207 million over the life of the loan.
Yancoal will fund the prepayment with available cash on October 4. The funds will go to the company’s syndicated facility and its related party unsecured loans.
CEO David Moult outlined the details of the early payment in the company’s latest announcement.
“Combined with debt prepayments in October 2021 and July 2022, the anticipated $1 billion in debt prepayments results in Yancoal prepaying more than $2.3 billion in debt over the past 12 months. “, did he declare.
After the prepayments are made, Yancoal will have a total remaining debt of US$792 million, consisting primarily of US$301 million, which is due in the second half of 2024, and US$307 million due in the second half of 2026.
Mr Moult said the prepayment will put the company in a better position moving forward.
“Yancoal’s decision to undertake another early debt repayment was made possible by robust coal prices and the company’s focus on optimizing its capital structure to deliver sustainable future value to shareholders. “, did he declare.
West African Resources
West African Resources (ASX:WAF) said its staff and contractors were all safe after another change in Burkina Faso’s military leadership was announced.
The political situation in the West African country has created a difficult environment for companies like West African Resources, but Burkina Faso’s new military leadership has urged people to “go about their business in peace”.
As a result, West African Resources has indicated that its Sanbrado gold mine in Burkina Faso is and will continue to operate normally.
Burkina Faso’s military president was replaced on Sunday after disagreements within the military leadership, having only held the position since January.
West African Resources says it remains on track to meet its 2022 production target, despite political uncertainty.
The company will release its September quarter production and cost report in the coming weeks.
Janus Henderson Group
The chairman of the leading global asset manager Janus Henderson Group (ASX: JHG), Richard Gillingwater, has left the board, along with several other directors.
Janus Henderson chief executive Ali Dibadj said Mr Gillingwater’s contributions have made the asset manager what it is today.
“For nine years, Richard has been a very dedicated and highly respected member of our Board of Directors,” he said.
“We have all benefited from his sound advice, substantial expertise and unwavering commitment to Janus Henderson’s success.”
“Richard’s strong leadership has led to the creation of Janus Henderson, a leading global platform well positioned for its next phase of growth and innovation.”
In addition to Mr. Gillingwater’s resignation, Janus Henderson also announced the retirement of non-executive directors Lawrence Kochard and Jeffrey Diermeier.
“I also express my gratitude to Larry and Jeff, whose dedication and business acumen have profoundly influenced the strategic direction of the company over the years,” added Mr. Dibadj.
As part of the board reshuffle, Janus Henderson has appointed Alison Quirk, Anne Sheehan and John Cassaday as new independent non-executive directors.
Janus Henderson has approximately $300 billion in assets under management and more than 2,000 employees, with offices in 23 cities around the world.
Just two weeks after Optus was hampered by a major data breach, another telco giant Telstra (ASX:TLS) also suffered what the company described as a “small data breach”.
With more than 18.8 million customer accounts, equivalent to three-quarters of Australia’s population, Telstra said some of its employee data had been exposed, dating back to 2017.
According to reports, an internal email from Telstra staff said the number of current and former employees affected was 30,000.
Although Telstra itself has not confirmed the exact number, it said only current and former employees were affected by the breach.
A Telstra spokesman said the data collected was meant to be “very basic in nature”, consisting only of names and email addresses.
“We believe it was made available now for the purpose of profiting from the Optus breach,” he said.
Following news last week, Core Lithium (ASX:CXO) has completed its $100 million equity offering to fund work on its Finniss lithium project in Australia’s Northern Territory.
The capital raised will go towards further exploration drilling, advancing the development of the proposed BP33 underground mine, setting up an overnight shift, as well as project management and development activities of the company.
Under the offering, Core will issue 97.1 million new shares at $1.03, a 13% discount to its five-day volume-weighted average price (VWAP).
The company said the capital increase comes at a time when investors are keenly interested in Core’s operations, and the equity placement will help accelerate the Finniss project’s growth strategy.
Additionally, Core has confirmed that it has officially completed Finniss’ first direct-shipment (DSO) spodumene ore sale.
The company said it sold 15,000 dry metric tons (dmt) of spodumene DSO, with an average content of 1.4% lithium oxide, for US$951 (A$1,480) per dmt.
Base general manager Gareth Manderson said the sale was an important milestone for the company.
“The completion of the DSO spodumene tender is a great result for Core and indicates the strong demand for lithium,” he said.