Arch Coal Inc. is seeking to refinance its first lien term loan facility with the proceeds from a seven-year US$250 million first lien term loan B facility and cash on hand.
The objectives of the refinancing are to reduce the company's interest expense, increase its financial flexibility and extend its weighted average debt maturity.
The terms of the potential refinancing will be disclosed upon the completion of the transaction.
There can be no assurance that Arch Coal, Inc. will be able to obtain the new credit facility.
US-based Arch Coal is a top coal producer for the global steel and power generation industries. Arch operates a streamlined portfolio of large-scale, low-cost mining complexes that produce high-quality metallurgical coals in Appalachia and low-emitting thermal coals in the Powder River Basin and other strategic supply regions.
Read the article online at: https://www.worldcoal.com/mining/17022017/arch-coal-plans-to-refinance-existing-first-lien-term-loan-facility/