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Westmoreland Coal plans to issue at least $400 million notes
By Paul A. Harris
Portland, Ore., Nov. 17 – Westmoreland Coal Co. announced in a Monday press release that it plans to sell $400 million minimum of new notes to help fund the tender offer for $675,485,000 of its 10¾% senior secured notes due 2018.
The refinancing will also be partly funded with the proceeds from a new credit facility that is set to launch on Wednesday via lead arranger BMO Capital Markets Corp.
Westmoreland Coal is an Englewood, Colo.-based independent coal company.
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