11 March 2015

Whitehaven Coal secures A$1.4 billion refinancing

Whitehaven Coal Limited (ASX: WHC) is pleased to announce it has accepted a fully underwritten offer for a new A$1.4 billion Senior Secured Bank Facility provided by a syndicate of Australian and international banks.

The new facility is on terms more favourable than the facility it will replace, resulting in a lower interest rate and increased headroom for Whitehaven.

The new facility’s A$1.2 billion drawable line of credit is for general corporate purposes and has a maturity date of July 2019. The facility is subject to completion of documentation and the satisfaction of standard conditions precedent.

Paul Flynn, Whitehaven Coal Managing Director and CEO, today said: “We are delighted with the support we have received for this flexible, low cost facility. It demonstrates Whitehaven’s improved creditworthiness and the increased confidence that lenders have in our growth plans and in our capacity to execute them ahead of expectations. 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.”


Whitehaven Coal Managing Director and CEO Paul Flynn.
Whitehaven Coal Managing Director and CEO Paul Flynn.
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