Foresight Energy to pay down $210 million term loan via units proceeds

By Marisa Wong

Madison, Wis., June 19 – Foresight Energy LP plans to repay about $210 million of its term facility due 2020 using proceeds from a $350 million initial public offering of common units, according to a 424B1 filing with the Securities and Exchange Commission.

Borrowings under the term loan bear interest at Libor plus 450 basis points.

Remaining proceeds from the units offering will be distributed to Foresight Reserves, LP, which manages the company’s operations.

Foresight is a coal producer based in St. Louis.

© 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.