James River Coal terminates tender offer, calls all 9 3/8% notes

By Jennifer Chiou

New York, April 18 - James River Coal Co. announced the termination of the tender offer and consent solicitation for its 9 3/8% senior notes due 2012. The company will return all tendered notes - a majority of which was tendered by the consent deadline of 5 p.m. ET on April 4 - and will redeem all of the securities at par on June 1.

In the tender offer, the company previously said that it had not accepted any notes due to conditions that had yet to be satisfied.

The company was offering $1,015 for each $1,000 principal amount of notes, including a consent payment of $10.00, in the tender offer that was set to end on Monday.

The tender offer and the consent solicitation were subject to the receipt of consents from the holders of a majority of the notes by the consent deadline, the closing of James River's agreement to acquire International Resource Partners LP and its subsidiaries and the receipt by the company of enough proceeds from financings to repurchase the notes and complete the acquisition.

The dealer managers and solicitation agents were Deutsche Bank Securities Inc. (212 250-6429) and UBS Investment Bank (203 719-4210 or 888 719-4210). The information agent was D.F. King & Co., Inc. (212 269-5550 for banks and brokers; others call 800 549-6697).

James River is a coal mine based in Richmond, Va.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.