Arch Coal to price $2 billion eight- and 10-year notes in week ahead

By Paul A. Harris

Portland, Ore., May 31 - Arch Coal, Inc. plans to price $2 billion of senior notes, with eight-year and 10-year maturities, during the middle part of the June 6 week, according to an informed source.

Morgan Stanley & Co., Inc., PNC Capital Markets, Bank of America Merrill Lynch, RBS Securities Inc. and Citigroup Global Markets are the joint bookrunners for the Rule 144A with registration rights offer.

The eight-year notes come with four years of call protection, and the 10-year notes come with five years of call protection.

The St. Louis-based coal producer plans to use the proceeds to partially fund its acquisition of International Coal Group Inc. and related transactions, including the redemption, payment of cash resulting from the conversion of, or other retirement of outstanding International Coal debt.

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