Alpha Natural Resources to use revolver borrowings for coal mine purchase

By Sara Rosenberg

New York, April 6 - Alpha Natural Resources Inc. plans to draw on its revolving credit facility to fund the about $23 million acquisition of certain coal mining operations in eastern Kentucky from Progress Fuels Corp., according to a company news release.

Closing on the acquisition is anticipated by May 1 and is subject to customary closing conditions.

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

© 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.