The refinancing deal is on favourable terms as compared to the previous A$1.2bn ($912.7m) facility that it is replacing.
It comes with lower interest rates and allows more headroom for the firm, Whitehaven informed. The scheduled maturity date for the loan is in July 2019.
ANZ, NAB, Westpac and the Bank of Tokyo are the underwriters for the new facility, with equal stakes, reports the Sydney Morning Herald.
Commonwealth Bank plans to buy into the facility after the debt is syndicated.
The loan awaits completion of documentation and the satisfaction of precedent standard conditions.
Whitehaven Coal managing director and CEO Paul Flynn said: "We are delighted with the support we have received for this flexible, low cost facility.
"It demonstrates Whitehaven’s improved creditworthiness and the increased confidence that lenders have in our growth plans and in our capacity to execute them ahead of expectations.
"Our goal is to become Australia’s leading independent coal company. We are on track to achieve this with our world class assets which we expect will continue to deliver further improved performance following a strong first half."
