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Alpha Natural Resources extends credit facility

World Coal,


Alpha Natural Resources, a leading US coal supplier, has amended and extended its senior secured credit facility and established a new accounts receivable securitisation facility, further enhancing the company's long-term financial flexibility.

Alpha CFO, Frank Wood, commented: "The amendment of the senior secured credit facility and the establishment of the new accounts receivable facility solidify our current robust liquidity position while improving our future financial flexibility. These transactions allow us to maintain a liquidity-neutral facility position through June 2016 while extending significant liquidity well into 2017.

"As of the end of the second quarter this year, Alpha had total liquidity of approximately US$ 2.4 billion, consisting of cash, cash equivalents and marketable securities of more than US$ 1.4 billion and nearly US$ 1.0 billion available under our senior secured credit facility. We are very pleased with the support we received from our lending group in completing these transactions."


Adapted from press release by Katie Woodward

Read the article online at: https://www.worldcoal.com/coal/26092014/alpha-extends-credit-facility-1359/


 

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