Wednesday, July 1, 2015

"Alpha Natural Resources Creditors Ready for Possible Restructuring Talks" $ANR

In the WSJ:

"Creditors expect restructuring talks to heat up ahead of the Aug. 1 repayment deadline for some of Alpha’s convertible bonds, according to people familiar with the investors’ thinking. The company has been buying back the notes, but $109 million worth remained outstanding as of March 31, according to a regulatory filing."
Those bonds due Aug 1 were trading at 35 today! The market is saying that it's very likely the company defaults on August 1.

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