Whitehaven Coal (ASX:WHC) 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 resulting in a lower interest rate and increased headroom for Whitehaven.
The 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.
Whitehaven's Maules Creek is the largest coal mine under construction in Australia.
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