PERTH (miningweekly.com) – Coal miner Whitehaven Coal on Friday completed its A$1.4-billion refinancing with a syndicate of Australian and international banks.
The senior bank facility was secured earlier this month, and would replace an existing credit facility, resulting in lower interest rates and increased headroom.
The facility’s drawable line of credit would have a maturity date of July 2019.
“We are pleased to have completed this important transaction and welcome the support provided by the banking syndicate. The facility will enable Whitehaven to fulfil its ambition of becoming Australia’s leading independent coal company by providing flexibility for the company over the next few years,” said MD and CEO Paul Flynn.