March 22, 2013
/PRNewswire/ -- Walter Energy Inc. ("Walter Energy") (NYSE: WLT) (TSX: WLT) today announced that it has increased the size of its previously announced offering of
aggregate principal amount of senior notes due 2021 to
with a coupon of 8.500% per annum (the "Notes"). Walter Energy will pay interest on the Notes on
of each year, beginning on
October 15, 2013
. The Notes will be guaranteed by each of Walter Energy's current and future direct and indirect 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
of indebtedness outstanding under its credit facilities and the remainder 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.