Cloud Peak Energy Resources amends loans, revising debt baskets

By Sara Rosenberg

New York, June 15 - Cloud Peak Energy Resources LLC amended its credit facility, increasing the foreign subsidiaries debt basket to $50 million from $10 million and including unsecured debt in the $100 million debt basket, according to an 8-K filed with the Securities and Exchange Commission on Friday.

Also, the amendment allows liens securing debt of foreign subsidiaries up to an aggregate of $50 million and permits liens of up to 12% of consolidated net tangible assets, up from the previous requirement of the greater of $35 million and 3% of consolidated net tangible assets.

The amendment was completed on June 14.

Morgan Stanley Senior Funding Inc. is the administrative agent on the deal.

Cloud Peak is a Gillette, Wyo.-based coal producer.

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