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The Singapore-based company has received from Standard Chartered Bank a committed, credit committee-approved offer of $US300 million.
The credit facility may be used to refinance the existing $US230 million bridge loan and provide additional funding for the company’s expansion and development plans.
The two companies are finalising documentation with financial close targeted for early to mid-November.
In September, parent company Straits Resources cancelled a restructure that would have seen Straits Asia acquire coal projects in Madagascar and Brunei, as well as being listed on the Australian Securities Exchange.
Shares in Australian-based Straits Resources jumped 33% or 36c to $1.45 on Friday.
