Private Credit Funds Join Whitehaven Coal’s $1.1 Billion Loan

Australian miner Whitehaven Coal Ltd. has attracted more than 10 private credit lenders including Ares Management, Canyon Partners, and Singapore’s sovereign wealth fund GIC Pte.to join its $1.1 billion loan, according to people familiar with the matter.

The five-year borrowing refinances a $900 million acquisition bridge loan announced in October to back Whitehaven’s acquisition of metallurgical coal mines in Australia’s northeastern state of Queensland. Whitehaven is buying the mines — called Daunia and Blackwater — from BHP Ltd.

Ares, Canyon Partners, GIC and Whitehaven declined to comment.

The Australian miner had previously increased the size of the ...