Massey Energy to redeem 2.25% convertible senior notes due 2024

By Melissa Kory

Cleveland, May 10 - Massey Energy Co. said that it will redeem its outstanding 2.25% convertible senior notes due 2024 on June 1, according to a 10-Q filed with the Securities and Exchange Commission.

The redemption is subject to Alpha Natural Resources Inc.'s merger and acquisition of Massey, which is expected to close on June 1.

Holders can convert their notes into shares of common stock until May 31. If all of the notes outstanding at March 31 were converted prior to the redemption date, Massey would issue 287,113 shares of common stock.

Massey Energy is a Richmond, Va.-based coal company. Massey shares (NYSE: MEE) closed at $62.70 each on May 10.

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