New South Wales focused coal producer Whitehaven Coal Limited
(ASX:WHC) has secured $1.4 billion refinancing.
The new senior secured bank facility has been provided by a syndicate of Australian and international banks, subject to conditions being met.
Whitehaven has advised the new facility is on terms more favourable than the facility it will replace, resulting in a lower interest rate and increased headroom.
Managing Director Paul Flynn says the company is delighted with the support it has received for this flexible and low cost facility.
Whitehaven Coal reported a net loss of $77.86 million in the first half of the 2015 financial year.
