Horizon Natural Resources to hold bank meeting July 18 for $250 million revolver

By Sara Rosenberg

New York, July 10 - Horizon Natural Resources Co., previously AEI Resources Holding Inc., is scheduled to hold a bank meeting on July 18 regarding a new $250 million revolving exit financing facility, according to a syndicate source. Deutsche Bank is the sole lead arranger on the deal.

The revolver has an interest rate of Libor plus 350 basis points and is secured by essentially all assets, the syndicate source said.

Horizon Natural Resources, an Ashland, Ky. producer of steam coal, emerged from Chapter 11 in May after 10 weeks.

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