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Arch Coal Inc (ACI)

ACI on New York Consolidated

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11 Jan 2016
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Latest Key Developments (Source: Significant Developments)

Arch Coal successfully completes financial restructuring, emerges from chapter 11
Wednesday, 5 Oct 2016 08:42am EDT 

Arch Coal Inc : Equity to trade on NYSE under symbol Arch . Arch is emerging with more than $300 million of cash on its balance sheet and a debt level of just $363 million . Cash requirements are expected to be modest, with projected capital spending of $55 million in 2017 . Co's projection of 2017 debt service is of approximately $33 million . Arch coal successfully completes financial restructuring and emerges from chapter 11 . Company has third-party surety bonds in place covering 100% of its reclamation bonding requirements .Company's total debt is 7% of what it was prior to restructuring.  Full Article

Arch Coal says to amend credit agreement
Monday, 3 Oct 2016 04:43pm EDT 

Arch Coal Inc [ACIIQ.PK] : Arch Coal Inc says entered into an amendment to dip credit agreement, dated as of September 28, 2016 .Arch Coal Inc says amendment extended availability period to borrow under dip facility and extended deadline for plan to become effective.  Full Article

Arch Coal announces proposed board of directors
Tuesday, 6 Sep 2016 05:05pm EDT 

Arch Coal Inc : Announces proposed board of directors . Term of new board members will begin upon company's emergence from chapter 11. .Board will be comprised of Patrick J. Bartels, Jr, James N. Chapman, Sherman K. Edmiston III, Patrick A. Kriegshauser, Richard A. Navarre, Scott D. Vogel and John W. Eaves.  Full Article

Arch Coal says bankruptcy court approves disclosure statement
Friday, 8 Jul 2016 06:30am EDT 

Arch Coal Inc : United States Bankruptcy Court For Eastern District Of Missouri has approved disclosure statement . Court has set a voting deadline of August 31 for eligible stakeholders . Arch Coal disclosure statement approved by court . Says Arch will begin process of soliciting votes for plan from eligible stakeholders immediately .Hearing to consider confirmation of plan by bankruptcy court is scheduled to commence on September 13.  Full Article

Arch Coal announces global settlement that facilitates consensual completion of financial restructuring
Tuesday, 5 Jul 2016 11:15am EDT 

: Arch Coal announces global settlement that facilitates consensual completion of financial restructuring . Arch Coal Inc says hearing to consider approval of disclosure statement is scheduled for July 6, 2016 . Arch Coal Inc says filed an amended plan of reorganization that incorporates and implements global settlement .Arch Coal says global settlement with certain of senior secured lenders that hold more than 66 2/3% of first lien term loan and the UCC.  Full Article

Arch Coal further amended DIP credit agreement extending bankruptcy court approval deadline of disclosure statement
Tuesday, 28 Jun 2016 05:54pm EDT 

Arch Coal Inc :Further amendment to DIP credit agreement extending bankruptcy court approval deadline of disclosure statement from June 23 to July 7.  Full Article

Arch Coal files amended plan of reorganization
Wednesday, 15 Jun 2016 06:00am EDT 

Arch Coal Inc : Plan is supported by certain of company's senior secured lenders that hold more than 66 2/3% of its first lien term loan . Hearing to consider approval of disclosure statement is scheduled for June 22, 2016 . Davis Polk & Wardwell LLP is serving as legal advisor to arch coal, and PJT partners is serving as financial advisor . Intends to seek confirmation of plan consistent with milestones outlined in restructuring support agreement .Arch coal files amended plan of reorganization and disclosure statement.  Full Article

Arch Coal Inc agrees deal with Wyoming for temporary cleanup relief - Reuters
Wednesday, 10 Feb 2016 06:13pm EST 

Arch Coal Inc:Arch Coal Inc has reached a deal with the state of Wyoming that will provide it with temporary relief from liability for millions of dollars in future cleanup costs for coal mines, according to court documents - RTRS.In the past, companies like Arch Coal have covered the costs of cleaning up mines through self-bonds that allowed them to use their balance sheet as a guarantee - RTRS.Arch said in a court filing that the state of Wyoming and the Wyoming Department of Environmental Quality (WDEQ) have agreed to accept $75 million from a debtor-in-possession (DIP) financing carve-out in the bankruptcy. - RTRS.That amount will cover cleanup costs related to mines operated by Arch, including Black Thunder, one of the country's largest mines, as well as the Coal Creek and Vanguard mines. - RTRS.An additional $17 million will be provided in third-party collateral for four smaller mines, it said. - RTRS.While this is a fraction of the total estimated cleanup costs of $485.5 million, Arch must provide new bonds for the remaining amount once it emerges from bankruptcy, according to the terms of the settlement. - RTRS.The deal, similar to one that Alpha reached in Wyoming and West Virginia, must be approved by a federal bankruptcy judge at a hearing on Feb. 23. In the filing, Arch said it estimates the final cleanup costs will be significantly less than $485.5 million - RTRS.  Full Article

Arch Coal Inc announces extension of private debt exchange offers and support agreement
Thursday, 24 Sep 2015 06:45am EDT 

Arch Coal Inc:Announced extension of pending private offer to exchange new 6.25% trust certificates due 2021.Announced extension of pending private offer to exchange cash payment for any of its outstanding 7.25% senior notes due 2020.Says the 2020 exchange offer has been extended and is now set to expire on October 26, 2015.On September 16, gso special situations master fund lp filed complaint against (unnamed) directing lenders and against Wilmington trust.Says Arch has not been made a party to the lawsuit.Complaint seeks declaratory judgment that exchange offers are permissible under credit agreement,do not require consent of directing lenders.Says Arch is extending the exchange offers in part to ensure that they remain outstanding through the date of hearing.  Full Article

Arch Coal, Inc gives Q1 2015 guidance
Tuesday, 21 Apr 2015 07:45am EDT 

Arch Coal, Inc:Sees Q1 2015 revenues of $677.0 million to $736.0 million.Sees Q1 2015 Loss from Operations of between (19.7) million to (73.1) million.Sees Q1 2015 Net Loss (113.2) million to (124.1) million.  Full Article

BRIEF-Arch coal files form 10-Q

* Has filed its q3 10-Q with securities and exchange commission