Alliance Resource Partners gets $300 million term loan via Citigroup

By Sara Rosenberg

New York, Jan. 4 - Alliance Resource Partners LP closed on a new $300 million term loan, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

Citigroup acted as the lead arranger and bookrunner on the deal that was completed on Dec. 29.

Pricing on the term loan can range from Libor plus 100 basis points to 225 bps based on debt to cash flow.

Covenants include a minimum debt to cash flow ratio of not more than 3.0 to 1.0 and a ratio of cash flow to interest expense of not less than 4.0 to 1.0.

Proceeds are being used for general corporate, business or working capital purposes.

Alliance Resource is a Tulsa, Okla.-based producer and marketer of coal.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.