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Whitehaven Coal Limited : Annual Report 2012
Whitehaven Coal Limited -- Annual Report 2012 21 MANAGEMENT Subsequent to balance date Whitehaven has put in place a new organisational structure designed to accommodate both current and future expansion of the business and its assets. The restructure includes the creation of seven Executive General Manager roles reporting to the Managing Director and Chief Executive Officer. Existing management will fill each of these roles. The roles are: General Counsel and Company Secretary -- Tim Burt EGM Projects Delivery -- Brian Cole EGM Operations and Executive Director -- Allan Davies EGM Business Development -- Peter Kane EGM Marketing -- Pat Markey EGM Corporate Services -- Lance Muir Chief Financial Officer and Company Secretary -- Austen Perrin In addition, Whitehaven has made a number of senior appointments during the year, including the appointment of Peter Wilkinson as General Manager, Open Cut operations, and Steve Bow as General Manager -- Narrabri. CORPORATE In August 2011, the Group refinanced its existing syndicated bank facility with a series of long-term bilateral facilities put in place with a number of Australian and foreign financial institutions. The bank facilities have a five year tenor and provide Whitehaven with lines of credit up to A$350 million for working capital and general corporate purposes. The facilities recognise Whitehaven's strong credit quality and growth prospects and will support Whitehaven's endeavours to further develop and realise the value from its existing world class coal assets. Whitehaven also secured an expansion of its existing debt facilities by a total of A$450 million in December 2011. $255 million was drawn for the payment of the Whitehaven special dividend. The Group will be looking to maximize and refinance these existing debt facilities into a minimum 3 year tenor.
Annual Report 2011
Annual Report 2013