Key Developments: Alpha Natural Resources Inc (ANR)

ANR on New York Consolidated

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21 Nov 2014
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Latest Key Developments (Source: Significant Developments)

Alpha Natural Resources Inc announces pricing of senior secured second lien notes and changes to credit facility
Tuesday, 13 May 2014 06:57pm EDT 

Alpha Natural Resources Inc:Announces pricing of its private offering of $500 million aggregate principal amount of 7.50 pct. senior secured second lien notes due 2020.The offering is expected to close on May 20.The notes will be guaranteed by each of Alpha's current and future wholly owned domestic subsidiaries that guarantee Alpha's obligations under Alpha's credit agreement.The notes will pay interest semiannually in arrears on Feb. 1 and Aug. 1 of each year, beginning on Feb. 1, 2015 at a rate of 7.50 pct. per year and will mature on Aug. 1, 2020.Alpha expects to use a portion of the net proceeds to fund purchases or repayments of its and its subsidiaries' outstanding indebtedness with near-term maturities.Any net proceeds from this offering remaining, are intended to be used for general corporate purposes.  Full Article

Alpha Natural Resources Inc announces offering of $400 million senior secured second lien notes
Monday, 12 May 2014 05:01pm EDT 

Alpha Natural Resources Inc:Intends to offer, $400 mln aggregate principal amount of senior secured second lien notes due 2020 in a private offering.Notes will be guaranteed by each of Alpha's current and future wholly-owned domestic subsidiaries that guarantee Alpha's obligations under Alpha's credit agreement.Notes and guarantees will be secured by second priority liens on same collateral securing on first priority lien basis indebtedness incurred under credit agreement, and will consist of substantially all of Alpha's assets and the assets of Alpha's subsidiary guarantors.Subject to the completion of this offering, Alpha expects to use portion of net proceeds to fund purchases or repayments of its and its subsidiaries' outstanding indebtedness with near-term maturities.Any net proceeds from this offering remaining, including if purchases or repayments are not consummated, are intended to be used for general corporate purposes.  Full Article

Alpha Natural Resources Inc announces pricing of convertible senior notes
Thursday, 12 Dec 2013 09:01pm EST 

Alpha Natural Resources Inc:Says pricing of its underwritten public offering of $300 million aggregate principal amount of 4.875 pct convertible senior notes due 2020.Says in addition, in connection with this offering, Alpha has granted the underwriters an over-allotment option to purchase up to an aggregate principal amount of $45 million of additional notes.Says the offering is expected to close on Dec. 18.Says notes will pay interest semiannually in arrears on Jun. 15 and Dec. 15 of each year, beginning on Jun. 15, 2014, at a rate of 4.875 pct per year and will mature on Dec. 15, 2020.Says notes will be convertible by the holders beginning on Oct. 15, 2020, or earlier upon the occurrence of certain events.Says Alpha estimates the net proceeds from the issuance and the sale of the notes, after deducting underwriting discounts but before estimated offering expenses, will be about $292 million, or $336 million if the over-allotment option is exercised in full.Says intends to use a portion of the net proceeds to fund purchases of about $34 million of Alpha's 2.375 pct convertible notes due 2015 and $181 million of the 3.25 pct convertible notes due 2015 issued by Alpha Appalachia Holdings, Inc.Says any net proceeds from this offering remaining, including if the purchases are not consummated, are intended to be used for general corporate purposes.Says Barclays, BofA Merrill Lynch, Goldman Sachs & Co. and Deutsche Bank Securities are acting as joint book-running managers.  Full Article

Alpha Natural Resources Inc announces public offering of $250 mln convertible senior notes
Wednesday, 11 Dec 2013 05:18pm EST 

Alpha Natural Resources Inc:Says it intends to offer, $250 million aggregate principal amount of convertible senior notes due 2020 in an underwritten public offering.Says it intends to grant the underwriters an over-allotment option to purchase up to an aggregate principal amount of $37.5 million of additional notes.Says it intends to use the net proceeds to fund purchases or repayments of a portion of its and its subsidiaries' outstanding indebtedness that matures earlier than the notes.Says any net proceeds from this offering remaining, including if the purchases or repayments are not consummated, are intended to be used for general corporate purposes.Says Barclays Capital Inc. is acting as one of the book-running managers in connection with this offering.  Full Article

Alpha Natural Resources Inc Completes Changes To Credit Facility
Wednesday, 22 May 2013 07:30am EDT 

Alpha Natural Resources Inc announced that it has amended and restated its secured credit facility, increasing the total amount of the facility from $1.6 billion to $1.725 billion and further enhancing its financial flexibility. The amended and restated credit agreement includes a new $625 million covenant lite senior secured term loan B facility, which matures on May 22, 2020. The proceeds of the term loan B facility will be used to repay the entire $525 million aggregate principal amount of Alpha's obligations under its existing term loan A facility, which matures on June 30, 2016, with the balance used to pay fees and expenses and for general corporate purposes. The amended and restated credit agreement, among other revisions, provides for an increased senior secured revolving facility from $1.0 billion to $1.1 billion, which matures on June 30, 2016.  Full Article

Alpha Natural Resources Inc Announces Pricing Of Convertible Senior Notes
Wednesday, 8 May 2013 10:06am EDT 

Alpha Natural Resources Inc announced the pricing of its underwritten public offering of $300 million aggregate principal amount of 3.75% convertible senior notes due 2017. In addition, in connection with this offering, Alpha has granted the underwriters an over-allotment option to purchase up to an aggregate principal amount of $45 million of additional notes on the same terms and conditions. The offering is expected to close on May 13, 2013, subject to customary closing conditions. Alpha estimates the net proceeds from the issuance and the sale of the notes, after deducting underwriting discounts but before estimated offering expenses, will be approximately $335 million. Alpha intends to use the net proceeds, together with approximately $65 million of cash on hand assuming the over-allotment option is exercised in full, to fund purchases of approximately $181 million of the Company's 2.375% convertible notes due 2015 and $226 million of the 3.25% convertible notes due 2015 issued by Massey Energy Company, a wholly owned subsidiary of Alpha. Any net proceeds from this offering remaining, including if the purchases are not consummated, are intended to be used for general corporate purposes. Barclays, J.P. Morgan, BofA Merrill Lynch, Citigroup, Morgan Stanley, BMO Capital Markets and Deutsche Bank Securities are acting as joint book-running managers in connection with this offering.  Full Article

Alpha Natural Resources Inc Announces Public Offering Of $300 Million Convertible Senior Notes
Tuesday, 7 May 2013 04:01pm EDT 

Alpha Natural Resources Inc announced that it intends to offer, subject to market and other conditions, $300 million aggregate principal amount of convertible senior notes due 2017 in an underwritten public offering. The notes will be convertible under certain circumstances and during certain periods into cash, Alpha's common stock or a combination thereof, at Alpha's election, and will be guaranteed on a senior unsecured basis by each of Alpha's current and future wholly-owned domestic subsidiaries that guarantee Alpha's obligations under Alpha's 9.75% senior notes due 2018. Alpha intends to grant the underwriters an over-allotment option to purchase up to an aggregate principal amount of $45 million of additional notes on the same terms and conditions. Subject to the successful completion of this offering, Alpha intends to use the net proceeds to fund purchases or repayments of a portion of its and its subsidiaries' outstanding indebtedness that matures earlier than the notes. Any net proceeds from this offering remaining, including if the purchases or repayments are not consummated, are intended to be used for general corporate purposes. Barclays, J.P. Morgan, BofA Merrill Lynch, Citigroup, Morgan Stanley, BMO Capital Markets and Deutsche Bank Securities are acting as joint book-running managers in connection with this offering.  Full Article

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