Key Developments: Arch Coal Inc (ACI)

ACI on New York Consolidated

2.89USD
25 Jul 2014
Price Change (% chg)

$-0.02 (-0.69%)
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Latest Key Developments (Source: Significant Developments)

Arch Coal Inc sells Hazard Thermal Mining Complex to Blackhawk
Wednesday, 5 Mar 2014 07:30am EST 

Arch Coal Inc:Sold its Hazard subsidiary to Blackhawk Mining, LLC for $26.3 mln in cash, prior to post-closing adjustments.Sale includes the Hazard thermal coal mining complex and related infrastructure as well as about 38 mln tons of thermal coal reserves in eastern Kentucky.As part of the sale, Arch has divested $15.6 mln of reclamation liabilities to Blackhawk, and expects to be released from $43.8 mln of reclamation surety bonding.Arch has potential to receive future royalty payments of up to $35.0 mln in aggregate over the next five years resulting from its retention of select coal reserves at Hazard.  Full Article

Arch Coal Inc announces resignation of Steve Leer
Friday, 28 Feb 2014 08:30am EST 

Arch Coal Inc:Says Steven F. Leer, chairman, will retire from Arch's board following the company's annual shareholder meeting on Apr. 24.Says Wesley M. Taylor, will succeed Leer as chairman.  Full Article

Arch Coal Inc announces sale of manufacturing unit ADDCAR for $21 mln
Monday, 10 Feb 2014 07:59am EST 

Arch Coal Inc:Says it has sold ADDCAR Systems, L.L.C. to UGM Holdings Pty. Ltd. for a total of $21 mln.Says UGM will pay Arch $21 miln during 2014 in three installments.Says additional terms were not disclosed.Says ADDCAR has been a wholly owned subsidiary of Arch Coal since the International Coal Group (ICG) acquisition in 2011.  Full Article

Arch Coal Inc announces annual dividend
Monday, 10 Feb 2014 07:58am EST 

Arch Coal Inc:Declared an annual cash dividend of $0.01 per share on the company's common stock.Says the annual cash dividend of $0.01 per share is payable in full on Mar. 14 to ACI shareholders of record on Feb. 28.  Full Article

Arch Coal Inc announces completion of financing transactions
Tuesday, 17 Dec 2013 04:16pm EST 

Arch Coal Inc:Completes of a series of financing transactions, including amendments to its senior secured credit facility, a $300 million senior secured Term Loan B facility.Says private offering of $350 million aggregate principal amount of 8.000% Senior Secured Second Lien Notes due 2019 and the initial settlement of its previously announced cash tender offer for any and all of its outstanding 8.750% Senior Notes due 2016.  Full Article

Arch Coal Inc announces receipt of commitments for amendments to revolver and term loan credit facility
Thursday, 12 Dec 2013 08:28pm EST 

Arch Coal Inc:Says has received the requisite commitments from lenders for amendments to its senior secured credit facility.Says it would increase its term loan facility from $1.63 bln to $1.93 bln with the addition of an incremental $300 mln term loan B.Says it expects to complete the amendments and close and fund the incremental term Loan B on Dec. 17.Says intends to use the net proceeds from the offering of the previously announced 8% senior secured second Lien Notes due 2019, with the net proceeds from the Term Loan B facility and cash on hand, to fund the purchase of its outstanding 8.750% Senior Notes due 2016.Says to use proceeds to consent solicitation and the redemption of any of the 2016 Notes that remain outstanding if Arch purchases less than all of the outstanding 2016 Notes in the tender offer.Says plans to reset the amount of dividends on its common stock to $0.01 per share per annum beginning in 2014.  Full Article

Arch Coal Inc Announces Quarterly Dividend
Thursday, 24 Oct 2013 04:28pm EDT 

Arch Coal, Inc announced that it has declared a quarterly cash dividend of $0.03 per share on the Company's common stock. The dividend is payable December 13, 2013 to shareholders of record on November 29, 2013.  Full Article

Arch Coal Inc Completes Sale Of Canyon Fuel Subsidiary
Monday, 19 Aug 2013 08:30am EDT 

Arch Coal, Inc. announced that it has completed the sale of its subsidiary, Canyon Fuel Company, LLC (Canyon Fuel) to Bowie Resources, LLC for $423 million in cash, which is inclusive of working capital adjustments. The sale includes the Sufco and Skyline longwall mines, the Dugout Canyon continuous miner operation and approximately 105 million tons of bituminous coal reserves, all located in Utah.  Full Article

Arch Coal Inc Announces Quarterly Dividend
Thursday, 25 Jul 2013 05:46pm EDT 

Arch Coal Inc announced that it has declared a quarterly cash dividend of $0.03 per share on the Company's common stock. The dividend is payable September 13, 2013 to shareholders of record on August 30, 2013.  Full Article

Arch Coal Inc Divests Non-Core Utah Operations To Bowie Resources For $435 Million In Cash
Friday, 28 Jun 2013 07:44am EDT 

Arch Coal Inc announced that they have entered into a definitive agreement under which Arch will sell to Bowie its wholly-owned subsidiary, Canyon Fuel Company, LLC, for $435 million in cash, subject to customary adjustments for working capital and other items. Both companies have approved the transaction, which is expected to close in the third quarter of 2013.  Full Article

UPDATE 1-Arch Coal to idle Cumberland River complex, cuts 213 jobs

July 21 - Arch Coal Inc said it would idle its Cumberland River coal company complex in Kentucky and Virginia to limit production of steel-making coal amid depressed prices.

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