| Bankrupt coal miner Alpha gets approval for $692 mln loan | |
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By Tom Hals Sept 15 (Reuters) - Alpha Natural Resources, a major U.S. coal miner that filed for bankruptcy in August, has reached agreements with creditors that clears the way for it to borrow $692 million to finance its Chapter 11, a company lawyer told a court on Tuesday. The company's plan to borrow the money was initially opposed by unsecured creditors and mine workers, who feared it unnecessarily burdened the company with more debt and granted lenders too much sway over the company. The company' lawyer said the parties are putting the final touches to the agreement and are expected to present the revised loan terms in the coming days. "I'm pleased we were able to get to a resolution and I think that bodes well for the case," U.S. Bankruptcy Judge Kevin Huennekens in Richmond, Virginia, told the hearing. Alpha, the world's third-largest supplier of metallurgical coal used in making steel, joined several other coal companies in bankruptcy as tighter regulations, falling energy prices and an economic slowdown in China have taken a toll on the industry. While rivals such as Patriot Coal and Walter Energy entered bankruptcy and quickly put their assets up for auction, Alpha intends to develop a business plan and a new financial structure that will allow it to turn itself around. The case is Alpha Natural Resources Inc, U.S. Bankruptcy Court, Eastern District of Virginia, No. 15-33896 (Reporting by Tom Hals in Wilmington, Delaware; Editing by Andrew Hay)
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Alpha Natural Resources Inc.
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CODE : ANR |
ISIN : US02076X1028 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Alpha Natural Res. est une société de production minière basée aux Etats-Unis D'Amerique. Alpha Natural Res. est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 580,6 millions US$ (502,5 millions €). La valeur de son action a atteint son plus haut niveau récent le 25 juillet 2008 à 99,92 US$, et son plus bas niveau récent le 19 février 2021 à 0,02 US$. Alpha Natural Res. possède 49 410 000 actions en circulation. |