If KML is borrowing in USD from Chinese banks, the base rate...

If KML is borrowing in USD from Chinese banks, the base rate would be USD LIBOR. i think people forget the USD LIBOR is <0.50% (6month). Given how big Ansteel is in China, any guesses as to the bank's margin on top of this? i'm thinking about 2%. Borrowing costs would be below or around 3%.

Not sure if the bank's have repriced (upwards) based on the escalating risks over time. 4% would be extreme for USD borrowing and considered worst case.