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Alpha Natural Resources announces $400 million secured notes offer
By Paul A. Harris
Portland, Ore., May 12 - Alpha Natural Resources, Inc. announced in a Monday press release that it plans to sell $400 million of senior secured second-lien notes due 2020 via Rule 144A and Regulation S.
The Bristol, Va.-based coal producer plans to use the proceeds to fund purchases or repayments of its and its subsidiaries' outstanding near-term maturity debt.
Any remaining proceeds, including those resulting from the debt purchases or repayments not being consummated, are intended to for general corporate purposes.
Alpha Natural Resources supplies metallurgical coal to the steel industry and thermal coal to generate power.
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