Contura Energy borrows $57.5 million under asset-based revolver

By Sara Rosenberg

New York, March 23 – Contura Energy Inc. drew down $57.5 million under its asset-based revolving credit facility on March 20, according to an 8-K filed with the Securities and Exchange Commission on Monday.

The borrowed funds carry an initial interest rate of 3.25% and mature on Sept. 20, 2020.

The draw was made to supplement operational flexibility in the face of uncertainty created by the current spread of the Covid-19 virus and its potential effects upon the national and world economies.

Citibank is the administrative agent on the deal.

Contura Energy is a Bristol, Tenn.-based coal supplier.

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