Massey Energy to start roadshow Monday for $725 million eight-year notes

By Paul A. Harris

St. Louis, Nov. 30 - Massey Energy Co. will begin a four-day roadshow on Monday for its $725 million offering of eight-year senior notes, according to a syndicate source.

The offering is expected late next week.

UBS Investment Bank has the books for the Rule 144A with registration rights offering. Bear Stearns & Co. and PNC Investment are the co-managers.

The notes come with four years of call protection.

Credit ratings on the notes remain to be determined.

Proceeds will be used to fund the tender for $220.1 million of the company's 6.95% senior notes due 2007, to buy back $132 million of its 4¾% convertible senior notes due 2023 and for general corporate purposes.

Massey Energy, with headquarters in Richmond, Va., and operations in West Virginia, Kentucky and Virginia, is the fourth largest coal company in the United States based on produced coal revenue.

© 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.