Warrior Met Coal to launch $350 million term loan B on Thursday

By Sara Rosenberg

New York, Feb. 22 – Warrior Met Coal Intermediate Holdco LLC is scheduled to hold a bank meeting at 3 p.m. ET in New York on Thursday to launch a $350 million seven-year covenant-light first-lien term loan B, according to a market source.

Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., BMO Capital Markets and RBC Capital Markets are the arrangers on the deal, and Apollo and KKR Capital Markets are the co-managers.

The term loan has 101 soft call protection for one year, the source said.

Proceeds will be used to fund a shareholder distribution.

Commitments are due at 5 p.m. ET on March 9, the source added.

Warrior Met Coal is a Brookwood, Ala.-based producer and exporter of metallurgical coal.

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