Australia's Whitehaven secures $600 million loan (updated)

Whitehaven Coal

10/04/2026 03:16

Updates with further details throughout

April 10 (Reuters) - Australia's Whitehaven Coal WHC.AX said on Friday it had secured $600 million in new bank financing to repay part of its existing $1.1 billion acquisition loan tied to its purchase of BHP's BHP.AX Queensland coal mines, among other debt.

The financing is a senior secured syndicated facility comprising a $475 million term loan and a $125 million revolving credit facility, the company said.

    In 2023, Whitehaven announced it would acquire BHP's Blackwater and Daunia mines, which are a part of the BHP Mitsubishi Alliance (BMA) metallurgical coal joint venture in Queensland, for $4.1 billion.

    "The successful execution of the new senior secured syndicated facility, with a headline rate of around 6%, further strengthens our funding flexibility, extends our maturity profile, materially reduces our funding cost and improves our weighted average cost of capital," Managing Director & CEO Paul Flynn said.

 (Reporting by Sneha Kumar in Bengaluru; Editing by Sumana Nandy)

 ((Sneha.Kumar@thomsonreuters.com;))