| Arch Coal ends debt swap offer amid looming bankruptcy | |
| | |
|
(Corrects headline and first paragraph to show Arch terminated debt swap rather than bondholders rejected the debt swap) Oct 27 (Reuters) - Arch Coal Inc moved closer to bankruptcy on Tuesday after it gave up on a debt swap proposal that had been aimed at boosting the coal miner's liquidity. The company, which like all other coal miners has been struggling with a slump in coal prices, said it is currently working with creditors to restructure its balance sheet. Arch's debt restructuring plan includes swapping existing debt for longer-term securities with the aim of reducing total debt and annual interest expenses by around 20 percent. (Reporting by Tracy Rucinski and Amrutha Gayathri; Editing by Saumyadeb Chakrabarty)
|
|
|
Arch Coal Inc
|
|
PRODUCER |
CODE : ACI |
ISIN : US0393801008 |
|
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Arch Coal is a coal producing company based in United states of america. Arch Coal holds various exploration projects in USA. Its main assets in production are WEST ELK, BLACK THUNDER and JACOB'S RANCH in USA and its main asset in development is SPRUCE N° 1 in USA. Arch Coal is listed in Germany and in United States of America. Its market capitalisation is US$ 366 000 as of today (€ 317 981). Its stock quote reached its highest recent level on June 27, 2003 at US$ 99.96, and its lowest recent point on October 04, 2018 at US$ 0.01. Arch Coal has 36 600 000 shares outstanding. |