Other debt

Details on our other debt, including borrowings and other financial liabilities


Rio Tinto Other Debt amounts to $5.7 billion as of 31 December 2023 which is funding at the business unit or asset level. This is largely driven by Oyu Tolgoi which has $3.9 billion in project financing. In addition, there is $0.5 billion of other secured or unsecured debt at the business unit or asset level and a further $1.4 billion of lease liabilities held on balance sheet under IFRS 16.

Borrowings and other financial liabilities 

Borrowings at 31 December 2023
UPDATED US$m

Oyu Tolgoi LLC MIGA Insured Loan SOFR plus 2.65% due 2032 (1)

602

Oyu Tolgoi LLC Commercial Banks "B Loan" SOFR plus 3.4% due 2032 (1)

 1,392

Oyu Tolgoi LLC Export Credit Agencies Loan 4.72% due 2033 (1)

 248

Oyu Tolgoi LLC Export Credit Agencies Loan SOFR plus 3.65% due 2034 (1)

 816

Oyu Tolgoi LLC International Financial Institutions "A Loan" SOFR plus 3.78% due 2035 (1)

 792

Other secured loans

 144

Other unsecured loans

 399

Lease liabilities

 1,351

Bank overdrafts

 1

1. These borrowings relate to the Oyu Tolgoi LLC project finance facility and the due dates stated represent the final repayment date. The interest rates stated are pre-completion and will increase by 1.2% post-completion, which is expected to happen in 2029 subject to meeting certain conditions.

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