ANNUAL%20REPORT%202015%20eng

Notes to Consolidated Financial Statements
23 BORROWINGS (Continued)
(a)
The Group’s long-term interest-bearing borrowings comprise: (Continued)
The Group’s long-term borrowings are repayable as follows:
2015 2014
USD’000 USD’000
Within 1 year or on demand 184,818 114,818
After 1 year but within 2 years — 166,818
184,818 281,636
(b)
The Group’s short-term interest-bearing borrowings comprise:
2015 2014
USD’000 USD’000
Bank loans
– Unsecured 15,000 —
Current portion of long-term borrowings
– Bank loan 184,818 114,818
Less: Unamortised transaction costs (2,187) —
197,631 114,818
On 24 February 2016, the Group had repaid the USD5,000,000 short-term loan by converting it into
coal pre-payment facility.
Certain bank loans of the Group are subject to the fulfilment of covenants relating to certain of the
Group’s financial ratios, as are commonly found in lending arrangements with financial institutions.
The Group was in breach of certain security coverage ratio and financial covenants under the BNP and
ICBC Facility as at 31 December 2015.
Annual Report 2015
169