Great American Capital Partners, LLC (GACP), a specialty finance company which originates and underwrites senior secured loans, announced it has entered into an agreement with Murray Energy Corp. to provide a US$90 million senior secured FILO term loan.
Financing for the loan is being provided through funds managed by GACP. The loan was part of the company’s previously announced capital restructuring and will provide additional liquidity to the business.
Founded in 1988, Murray Energy Corp. is the largest privately-owned coal company in the US and produces bituminous coal primarily used in power generation.
“We are very pleased to work with Murray Energy and provide a financing solution that meets their capital needs and provides liquidity for the recapitalised business,” said John Ahn, President of GACP. “This transaction is another example of GACP’s interest and ability to creatively provide solutions in the energy sector.”
"Murray Energy is excited to work with GACP,” said Robert Moore, Executive Vice President, Chief Operating Officer, and Chief Financial Officer of Murray Energy. “The GACP team has a thorough understanding our business and this loan will enable us to strengthen our position in the global marketplace.”
Read the article online at: https://www.worldcoal.com/coal/20092018/gacp-agrees-to-supply-filo-term-loan-to-murray-energy/