Tuesday, November 10, 2015

"Arch Coal Lenders Aligned With Oaktree Said Seeking Control" $ACI

The company, the second largest coal miner in the U.S. by volume, said in a filing Monday that it’s in talks with creditors on a “significant restructuring” of its balance sheet. Arch may file for Chapter 11 protection regardless of whether it strikes a deal with creditors, it said.

The miner owes about $90 million in coupon payments on Dec. 15. Advisers for its lenders are in talks for a deal that would put the company into bankruptcy by Jan. 15, when a 30-day grace period for the payments would run out, said the people, who asked not to be named because the negotiations are private.

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