Whitehaven Coal (ASX:WHC) has capitalised on its strengthened credit profile by securing a new US$600 million senior secured syndicated facility.
The newly inked deal features a 4.5-year tenor and is structured in two distinct tranches: a US$475 million term loan and a US$125 million revolving credit facility.
Beyond the initial commitment, Whitehaven confirmed it has already received additional bank approvals for a further US$150 million, providing the scope to upsize the total facility as part of an ongoing refinancing process.
The capital injection is earmarked for strategic debt management, specifically to repay a portion of the US$1.1 billion term loan originally utilised to acquire the Daunia and Blackwater metallurgical coal operations.
Additionally, the funds will replace an existing US$100 million revolving credit line.
Managing Director and CEO Paul Flynn noted that the facility carries a competitive headline interest rate of approximately 6%, which is expected to materially lower the company’s weighted average cost of capital while extending its debt maturity profile.
Industry analysts suggest the strong support from banking partners reflects growing lender confidence in Whitehaven’s operational integration and disciplined capital management.
At the time of reporting, Whitehaven Coal's share price was $7.92.