Whitehaven Coal Limited
(ASX:WHC) has accepted $1.2 billion in secured bank facilities from ANZ banking Group
(ASX:ANZ) to provide funding for general corporate purposes and capital expenditure.
Revolving, term and guarantee facilities will be provided by the underwritten offer.
CEO Tony Haggarty says the refinancing outcome provides certainty and flexibility with which to execute Whitehaven’s business plan.
Mr Haggarty believes the ANZ proposal recognises the attractive growth prospects of Whitehaven Coal.
The funds will be partially directed towards the development of Whitehaven’s Maules Creek project in NSW.
Whitehaven Coal posted a net profit of $62.5 million for fiscal 2012.
