Arch Coal to redeem $500 million of 6¾% notes with new issue proceeds

By Susanna Moon

Chicago, Aug. 2 - Arch Coal, Inc. said it plans to use proceeds from a notes offering to repurchase or redeem $500 million principal amount of Arch Western Finance's outstanding 6¾% senior notes due 2013.

There is $950 million principal amount of the 6¾% notes outstanding.

The St. Louis coal producer said it plans to offer $500 million principal amount of senior notes due 2020. The interest rate and other issue terms will be determined at pricing.

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