-- Whitehaven Coal (ASX:WHC) entered into a new $600 million senior secured syndicated facility with a tenor of 4.5 years and with a headline rate of around 6%, according to a Friday Australian bourse filing.
The facility includes a $475 million term loan and a $125 million revolving credit facility.
It also received bank credit approvals for an additional $150 million and may upsize this facility as part of its current refinancing process.
The facility will be used to repay a portion of Whitehaven's existing $1.1 billion acquisition term loan facility and replace its existing $100 million general corporate purpose revolving credit facility. Completion of the facility is subject to customary closing conditions.
Its shares fell 5% in recent trading on Friday.