Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Armstrong Energy, Inc. > News item |
Armstrong Energy noteholders extend forbearance period to Sept. 29
By Caroline Salls
Pittsburgh, Sept. 25 – Armstrong Energy, Inc. entered into a third supplemental forbearance agreement in connection with its failure to make a June 15 interest payment on its senior secured notes due 2019, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company said holders of $156 million in principal amount of the notes, representing roughly 78% of the outstanding principal amount, supported the supplemental forbearance agreement.
Under the third supplemental forbearance, the supporting noteholders agreed to not exercise their default-related rights until the earlier of 12:01 p.m. ET on Sept. 29 and the occurrence of a termination event.
The second supplemental forbearance period was scheduled to terminate on the earlier of 12:01 a.m. ET on Sept. 24 and the occurrence of a termination date.
The supporting holders also agreed to not transfer any ownership in the senior secured notes during the supplemental forbearance period other than to potential transferees currently party to or who agree in writing to be bound by the forbearance agreement.
The diversified producer of low-chlorine, high-sulfur thermal coal from the Illinois Basin is based in St. Louis.
© 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.