Long story short... we will be getting more than US$37.5/t that you mentioned at the start of your post. This deal will get spot and fixed forward curve on the 0.8mtpa + the 2018 NCSA rates on the 2.2mtpa from the 2027. We get to defer Stanwell rebate for the rest of this year (which forms the basis for $75m of the loan). It will cost us 13%pa on the US$150m loan until we start repaying it with coal deliveries in 2027.
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