Fortescue Metals has secured a new $US4.5 billion ($A4.31 billion) credit facility which it will use to refinance its looming bank debts.

The troubled iron ore miner had been in negotiations with its lenders about potential waivers of its bank facilities, and on Tuesday said the new credit, to be provided by Credit Suisse and JP Morgan, would extend the maturity profile of its debts.

“This action, together with our previously announced measures, will continue to build on Fortescue’s profitability, liquidity and above all, removes uncertainty around our financing arrangements,” chief executive Nev Power said in a statement.

Concerns about Fortescue’s ability to pay back its gross debt of about $US9 billion ($A8.57 billion) had come to a head in recent days with the iron ore spot price falling below $US100 ($A95.87).

Some analysts said they believed the price fall had left the company no longer profitable.

“Fortescue has moved quickly to ensure its capital structure can withstand prolonged market volatility,” Mr Power said.

The company also said it had received strong interest from a range of parties about partnering with Fortescue in some of its assets.

The company would evaluate these approaches, but with the new five-year credit facility in place such transactions were no longer required, Fortescue said.

Fortescue has already sold a power station at one of its mines for $300 million.

It also recently announced the delaying of $US1.6 billion ($A1.53 billion) of capital expenditure, 1,000 job cuts and a reduction in operational costs.

Fortescue shares have been in a trading halt since Friday, and will resume trade when the share market opens at 1000 AEST on Tuesday.