U.S. Coal to launch $105 million term loan with Monday meeting

By Sara Rosenberg

New York, July 15 - U.S. Coal Corp. is scheduled to hold a bank meeting on Monday to launch a proposed $105 million six-year term loan, according to a market source.

Credit Suisse Securities (USA) LLC is the lead bank on the deal.

Price talk on the term loan is Libor plus 600 basis points with a 1.5% Libor floor and an original issue discount of 98, the source said.

The loan includes call protection of 103 in year one, 102 in year two and 101 in year three.

Proceeds will be used to refinance existing debt.

U.S. Coal is a Lexington, Ky.-based producer of coal in Central Appalachia.

© 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.