KWM advises on A$1.2bn Whitehaven Coal bank facility

King & Wood Mallesons has advised a syndicate of banks including Australia and New Zealand Banking Group, Commonwealth Bank of Australia, National Australia Bank and Macquarie on their fully underwritten offer of a A$1.2bn Senior Secured Bank Facility to Whitehaven Coal.

Under the deal, which closed today, Whitehaven will have access to lines of credit up to A$1.2bn, including revolving, term and guarantee facilities.

The new facilities will have a four-year tenor and will replace the company’s existing bank facilities and provide funding for general corporate purposes and capital expenditure, including the development of the Maules Creek project.

King & Wood Mallesons’ team was led by managing partner Scott Gardiner, who was supported by senior associates Rebecca Finkelstein and Greg Nicholas.