Foresight collects needed consents for 7 7/8% senior notes due 2021

New York, April 2 – Foresight Energy LP announced that its wholly owned subsidiaries Foresight Energy LLC and Foresight Energy Finance received the needed consents to amend their $600 million of 7 7/8% senior notes due 2021.

Holders of more than a majority of the notes delivered consents before the solicitation expired at 5 p.m. ET on April 1, according to a press release.

As announced on March 30, the companies want to be allowed to incur up to $1.05 billion of secured debt and to amend the definition of “qualifying owners” to allow Murray Energy Corp. and its affiliates to acquire an 80% voting interest in Foresight Energy GP LLC without triggering a change of control. They also want to further modify the definition of “qualifying owners” to remove the persons currently listed so that, following the acquisition, they will no longer be considered as qualifying owners.

Foresight will pay a cash consent payment of $80 per $1,000 principal amount of notes as of the record date, 5 p.m. ET on March 27, to holders who delivered consents by the expiration date.

When it announced the solicitation, Foresight said that the holders of greater than a majority in principal amount of the notes have agreed to provide consents to the changes.

If the acquisition is not completed by 5:30 p.m. ET on April 27, the proposed amendments shall revert to the form currently in effect.

Foresight is a coal producer based in St. Louis.

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