Oxford Mining to launch $150 million credit facility on Tuesday

By Sara Rosenberg

New York, May 24 - Oxford Mining Co. is scheduled to hold a bank meeting on Tuesday to launch its proposed $150 million credit facility, according to a market source.

Citigroup and Barclays are the lead banks on the deal.

The facility consists of a $50 million three-year revolver and a $100 million four-year term loan A, with both tranches talked at Libor plus 425 basis points, the source said.

Proceeds will be used to refinance existing debt.

Oxford Mining is a Coshocton, Ohio, producer of coal.

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