Alpha Natural Resources intends to sell $1.5 billion eight-, 10-year senior notes in May 16 week

By Paul A. Harris

Portland, Ore., May 13 - Alpha Natural Resources, Inc. plans to price $1.5 billion of senior notes in two tranches during the May 16 week, according to an informed source.

An investor call is set for 10:30 a.m. ET on Monday.

The deal includes tranches of eight-year notes, which come with three years of call protection, and 10-year notes, which come with five years of call protection.

Morgan Stanley & Co. Inc. and Citigroup Global Markets Inc. are the joint bookrunners for the public offering.

Bank of America Merrill Lynch, Mitsubishi UFJ Securities, PNC Capital Markets and RBS Securities Inc. are the co-managers.

Credit ratings remain to be determined.

The Abingdon, Va.-based coal producer plans to use the proceeds to finance a portion of the acquisition of Massey Energy Co., including the repayment of some outstanding Massey Energy debt.

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