Nov. 14, 2012
/PRNewswire/ -- Arch Coal, Inc. (NYSE:ACI) today announced the pricing of
aggregate principal amount of its 9.875% senior notes due 2019 at an issue price of 95.934% of principal amount, resulting in a yield to maturity of 10.75%. Due to strong investor demand, the offering was upsized to
from the previously announced
. Arch will pay interest on the notes on
of each year, beginning on
, 2013. The notes will be guaranteed by Arch's subsidiaries that guarantee indebtedness under Arch's senior secured credit facility.
The notes 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 offering is subject to market and other conditions. Arch intends to use the net proceeds from the offering for general corporate purposes.
This press release is being issued pursuant to Rule 135c under the Securities Act, and is neither an offer to sell nor a solicitation of an offer to sell or a solicitation of an offer to buy any securities. The notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in
the United States
absent registration or applicable exemption from registration requirements.
U.S.-based Arch Coal is a top five global coal producer and marketer. Arch is the most diversified American coal company, with mining complexes across every major U.S. coal supply basin. Its core business is supplying cleaner-burning, low-sulfur thermal and metallurgical coal to power generators and steel manufacturers on five continents.