At 31 December 2016 the Group maintained a conservative liquidity position of $15.8bn comprised of $6.0bn of cash and $9.7bn of undrawn committed bank facilities.
||Total committed bank facilities
||Drawings under committed facilities
||Undrawn committed facilities
||Total Available Liquidity
|Rest of World
Of the following committed bank facilities, only Anglo American Capital’s Revolving Credit Facility is guaranteed by Anglo American plc. As at 31 December 2016 the material committed bank facilities comprised of the following.
||Total committed bank facilities (bn)
||Drawings under committed facilities (bn)
||Undrawn committed facilities (bn)
|Anglo American Capital
||2018 - 2020
|Anglo American South Africa
||2017 - 2019
|Anglo American Platinum
||2017 - 2024
|Kumba Iron Ore
1. Pricing on the Core Credit facility is subject to a credit rating margin grid with a floor at BBB- (S&P) and Baa3 (Moody’s). There is therefore no increase in the cost of the facility for a sub-investment grade credit rating. Included in this figure is the $1.05bn Club facility retired in January 2017, which was entered into in 2016 in the context of the bond buyback transaction.
2. Includes ZAR6.1 billion in respect of facilities with 364 day maturity which roll automatically on a daily basis, unless notice is served.
3. Financial covenants are based on maximum net debt to tangible net worth ratios and minimum tangible net worth values.
4. Includes ZAR1.3 billion in respect of facilities with 364 day maturity which roll automatically on a daily basis, unless notice is served.
5. Financial covenants are based on net debt to EBITDA and EBITDA to interest expense ratios.