Herbert Smith Freehills has advised Whitehaven Coal Limited on its fully underwritten offer of new A$1.4 billion senior secured bank facilities to be provided by a syndicate of Australian and international banks.
The facilities, which mature in July 2019, provide Whitehaven with revolving, term and guarantee lines of credit for general corporate purposes and will replace its existing debt facilities with more favourable terms.
The Herbert Smith Freehills team was led by partner Joel Rennie, who was supported by lawyers Rupert Baker and Emma Zarb.
Joel Rennie said: ‘This commitment and the appetite of both Australian and international banks for Whitehaven debt highlights the world class nature of Whitehaven’s coal assets as well as the impressive track record of its management team. It was very rewarding to be involved in achieving this transformational financing milestone for the company.’
Gilbert + Tobin advised the financiers on this transaction.
Source: www.herbertsmithfreehills.com
