Armstrong Energy talks $200 million seven-year senior secured notes to yield 10½%-10¾%

By Paul A. Harris

Portland, Ore., Dec. 5 - Armstrong Energy, Inc. talked its $200 million offering of seven-year senior secured notes (/B-/) to yield 10½% to 10¾%, a market source said on Wednesday.

The deal is expected to price on Thursday.

Stifel Nicolaus & Co. Inc. has the books for the Rule 144A and Regulation S deal. PNC Capital Markets LLC is the co-manager.

Proceeds will be used to repay the company's senior secured credit facility and for general corporate purposes, including capital expenditures and potential reserve acquisitions.

The prospective issuer is a St. Louis-based diversified producer of low-chlorine, high-sulfur thermal coal from the Illinois Basin.

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