https://www.miningweekly.com

Whitehaven secures new A$1.4bn bank facility

12th March 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – ASX-listed Whitehaven Coal has secured a A$1.4-billion senior bank facility to replace an existing credit facility, resulting in lower interest rates and increased headroom.

MD Paul Flynn said on Thursday that the new facility’s A$1.2-billion drawable line of credit was for general working purposes and had a maturity date of July 2019.

He added that the new flexible, low-cost facility demonstrated Whitehaven’s improved creditworthiness and the increased confidence that lenders have in the company’s growth plans and its capacity to execute these.

“Our goal is to become Australia’s leading independent coal company. We are on track to achieve this with our world-class assets, which we expect will continue to deliver further improved performance following a strong first half.”

The facility was subject to the completion of documentation and the satisfaction of standard conditions.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Rio-Carb
Rio-Carb

Rio Carb is an OEM (Original Equipment Manufacturer) of R-C700 Chromium Carbide (CrC) alloy clad wear plates and pipes used for heavy materials...

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.045 0.733s - 110pq - 2rq
Subscribe Now