Walter Energy to pay down term loan borrowings with notes proceeds

By Sara Rosenberg

New York, March 22 - Walter Energy Inc. plans to repay $250 million of its term loan A and term loan B debt using proceeds from a $350 million senior notes offering, according to market source.

Remaining proceeds will be used for general corporate purposes.

Walter Energy is a Birmingham, Ala.-based pure-play metallurgical coal producer.

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