Coronado Australia to launch $700 million term loan on Thursday

New York, Feb. 27 – Coronado Australia Holdings Pty. Ltd. will launch a $700 million seven-year term loan at a bank meeting to begin at 9:30 a.m. ET on March 1, according to a market source.

The loan will have 101 call protection for six months.

Deutsche Bank and Goldman Sachs are bookrunners for the transaction.

Commitments are due by March 15.

Proceeds will be used for the acquisition of Curragh.

Coronado Australia is a metallurgical coal producer. Parent Coronado Coal, LLC is based in Beckley, W.Va., and is a portfolio company of private equity company Energy & Minerals Group.

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