Alpha Natural Resources amended term loan priced at Libor plus 325 bps

By Sara Rosenberg

New York, April 16 - Alpha Natural Resources Inc.'s amended term loan is priced at Libor plus 325 basis points and its amended revolver is priced at Libor plus 300 bps to 375 bps based on leverage, according to an 8-K filed with the Securities and Exchange Commission on Friday.

Under the amendment, the company extended $236.8 million of outstanding term loans and $554 million of revolver commitments to July 31, 2014 from July 7, 2011.

In addition, the amendment added $300.4 million of additional revolver commitments with a maturity of July 31, 2014, increasing the amount available to be drawn under the revolver at the close of the amendment to $950.4 million, of which $96 million matures on July 7, 2011.

The amendment also increased the incremental credit capacity to $400 million.

Citicorp is the administrative agent on the deal.

The amendment was completed on April 15.

Alpha Natural Resources is an Abingdon, Va.-based coal producer.

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