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Walter Energy refinancing pulled, shares drop

June 14 | Fri Jun 14, 2013 2:02pm EDT

June 14 (Reuters) - Walter Energy Inc has pulled a planned $1.55 billion credit refinancing, Reuters Loan Pricing Corp reported on Friday, citing sources, sending the coal miner's shares lower.

The Morgan Stanley-led deal was pulled because of market conditions, the report said.

Walter's typically volatile shares dropped sharply after the news, and were down 17 percent at $12.16 by mid-afternoon on the New York Stock Exchange. (Reporting by Allison Martell; Editing by Gerald E. McCormick)

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Comments (1)
remmy3 wrote:
Bought WLT after a recommendation from Charles Payne on Fox Business. I’m feeling the pain now.

Jun 14, 2013 2:42pm EDT  --  Report as abuse
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