The new facility allowed for under the provisions of the indenture governing its outstanding 10.750% Senior Secured Notes due 2018.
Westmoreland Coal Company chief executive officer Keith E Alessi said the company has no immediate plans to draw upon the facility, which will provide it with increased financial flexibility and liquidity.
"The amendments to the WML agreements adjust our ratios and funding requirements to more closely reflect the quarterly fluctuations in our business and the impact of the current low interest rate environment on pension valuations," added Alessi.
Westmoreland Coal wholly owned subsidiary Westmoreland Mining has successfully amended its existing note purchase agreement and its amended and restated credit agreements dated 26 June 2008.
