The credit facility also provides company with provisions to extend the agreement until March 2016 while it refrained from disclosing further terms of the loan.
The facility, the company, said was was on similar lines to that of the earlier arrangement.
Western Areas said in its statement, "Interest rates and fees applicable have been priced at what the company considers a competitive margin."
The company also claimed that the undrawn facility will be used to pay its $110m bond repayment due in July 2014.
Western Areas managing director Dan Lougher said that the facility would help the company maintain a flexible balance sheet besides making it financially security.
"Most importantly it eliminates any perceived refinance risk that relates to the July 2014 maturity of the second tranche of convertible bonds," added Lougher.
