Market Overview

Walter Energy Prices $500M Private Offering of Senior Notes

Walter Energy (NYSE: WLT) today announced the pricing of its private offering of $500 million aggregate principal amount of its 9.875% senior notes due 2020 (the "Notes"). Walter Energy will pay interest on the Notes on June 15 and December 15 of each year, beginning on June 15, 2013. The Notes will be guaranteed by each of Walter Energy's current and future wholly-owned domestic restricted subsidiaries that from time to time guarantees any of Walter Energy's indebtedness or any indebtedness of any of Walter Energy's restricted subsidiaries. The Notes and related guarantees will be offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act. The Notes have not been registered under the Securities Act, and, unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws.

Walter Energy plans to use the net proceeds of the offering to repay indebtedness outstanding under its credit facilities, to pay fees and expenses related to the offering and for general corporate purposes.

This press release does not constitute an offer to sell, or a solicitation of an offer to sell or buy any securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Posted-In: News Financing

 

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