| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers W > Headlines for Warrior Met Coal, Inc. > News item |
Warrior Met begins concurrent tender offers for 7 7/8% notes due 2028
By Wendy Van Sickle
Columbus, Ohio, Aug. 9 – Warrior Met Coal, Inc. began a pair of concurrent cash offers, each to purchase up to $150 million principal amount of the company’s $302,618,000 of 7 7/8% senior secured notes due 2028 (Cusips: 93627CAB7, U93537AC9), according to a Wednesday news release.
In a restricted payment offer, the company is offering to purchase up to $150 million of the notes at 103 plus accrued interest to, but excluding, the repurchase date.
In a separate tender offer, the company is offering to purchase up to $150 million of the notes at 104.25 plus accrued interest to, but excluding, the repurchase date.
Following the consummation of the restricted payment offer, Warrior Met plans to make one or more restricted payments totaling $150 million in the form of special dividends to holders of the company’s common stock and/or repurchases of the company’s common stock.
An automatic proration factor of 49.5674% will be applied to notes tendered under each of the restricted payment offer and the tender offer.
Each offer will expire at 5 p.m. ET on Sept. 7, and the repurchase date will be Sept. 8 for the restricted payment offer and Sept. 11 for the tender offer.
Notes validly tendered in one offer may not be tendered in the other.
D.F. King & Co., Inc. (212 269-5550, 800 431-9645 or hcc@dfking.com) is the information and tender agent for each offer.
Goldman Sachs & Co. LLC (212 902-5962, 800 828-3182 or GS-LM-NYC@gs.com) is the dealer manager for the tender offer. There is no dealer manager for the restricted payment offer.
Warrior Met Coal is a Brookwood, Ala.-based metallurgical coal producer.
© 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.