Griffin Coal to price $50 million add-on to 9½% notes due 2016 on Thursday via Merrill Lynch

By Paul A. Harris

St. Louis, Feb. 7 - Griffin Coal Mining Co. plans to price a $50 million add-on to its 9½% senior notes due Dec. 1, 2016 (existing Ba2/confirmed BB-) on Thursday, according to an informed source.

No price talk was available Wednesday night when Prospect News went to press.

Merrill Lynch & Co. will lead the deal.

The notes are non-callable and contain a make-whole call provision at Treasuries plus 50 basis points.

Proceeds will be used to support the company's liquidity position ahead of its significant upcoming capital expenditure programs.

The original $400 million issue priced at par in November.

Griffin Coal is a private coal mining company based in Western Australia.

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