International Coal buys back $30.2 million 10¼% notes, 9% convertibles

By Devika Patel

Knoxville, Tenn., Oct. 27 - International Coal Group, Inc. repurchased $5.9 million of its 10¼% senior notes due 2014 in July and $24.3 million of its 9% convertible senior notes due 2012 in September and October, according to a company earnings report.

The company incurred a $300,000 loss that will be recognized in the fourth quarter. It used cash on hand to fund all the repurchases.

International Coal is a Scott Depot, W.Va.-based producer of coal.

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