Whitehaven Coal Unit Secures $900 Million Through Senior Secured Notes Offering
-- Whitehaven Coal (ASX:WHC) said its subsidiary Australian MetCoal Financing has completed a $900 million offering of senior secured notes to institutional investors under US and international exemptions, according to a Thursday filing with the Australian bourse.
The financing is divided into two $450 million tranches, maturing in October 2031 and April 2034, both of which carry semi-annual interest payments starting in October, the filing said.
The proceeds will mainly be used to refinance the company's $1.1 billion acquisition term loan facility, with the balance directed toward general corporate purposes, the filing added.
The company's shares rose 1% in recent Thursday trade.