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Last $8.21 USD
Change Today +1.18 / 16.79%
Volume 9.3M
As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

arch coal inc (ACI) Key Developments

Arch Coal Extends Deadline for Debt Exchange Offer

Arch Coal Inc. announced that it would extend a debt exchange offer that had been scheduled to expire at midnight on August 4, 2015, for 10 days. Both the early tender period and the offer itself now expire at midnight on Aug. 14, 2015. The offer originally was to expire on July 30 before previous extensions. The company aims to reduce its principal amount of debt and interest expense through the offer, but a group of its first-lien term lenders is disputing the debt swap. Arch announced that as of 5:00 p.m. on August 4, 2015, unsecured noteholders had contributed $417 million in 7.25% notes due 2020, $489 million in 7% notes due 2019, $169 million in 9.875% notes due 2019, and $400 million in 7.25% notes due 2021 to the offer. An additional $34 million in 2020 notes were contributed by holders that weren't eligible to participate in the main exchange offer. Under the offer, the noteholders would receive a mix of cash and new debt with longer maturities.

Arch Coal Announces Extension of Private Debt Exchange Offer

Arch Coal Inc. announced the extension of its pending private offer to exchange the '2020 Exchange Offer' new 6.25% Trust Certificates due 2021 the 'Trust Certificates' and a cash payment for any and all of its outstanding 7.25% Senior Notes due 2020 the 2020 Notes'. The 2020 Exchange Offer, previously set to expire at 12:00 midnight, New York City time, on July 31, 2015, has been extended and is now set to expire at 12:00 midnight, New York City time, on August 4, 2015. The Withdrawal Deadline for the 2020 Exchange Offer has passed and 2020 Notes tendered in the 2020 Exchange Offer may no longer be withdrawn. As of 5:00 p.m. New York City time on July 31, 2015, approximately $417 million aggregate principal amount of 2020 Notes have been validly tendered pursuant to the 2020 Exchange Offer. As previously disclosed, Arch has made alternative arrangements on similar economic terms for holders of the 2020 Notes not eligible to participate in the 2020 Exchange Offer the 'Ineligible Holders Offer'. The Ineligible Holders Offer, previously set to expire at 12:00 midnight, New York City time, on July 31, 2015, has also been extended and is now set to expire at 12:00 midnight, New York City time, on August 4, 2015. As of 5:00 p.m. New York City time on July 31, 2015, approximately $34 million aggregate principal amount of 2020 Notes have been validly tendered pursuant to the Ineligible Holders Offer. The terms of the 2020 Exchange Offer are set forth in the Confidential Offering Memorandum and Consent Solicitation Statement the '2020 Exchange Offering Memorandum' and the accompanying Consent and Letter of Transmittal related to the 2020 Exchange Offer the 'Consent and Letter of Transmittal'. The 2020 Exchange Offer is made only by, and pursuant to the terms of, the 2020 Exchange Offering Memorandum and the Consent and Letter of Transmittal, and the information in this news release is qualified by reference thereto.

Arch Coal Inc. Reports Unaudited Consolidated Earnings Results the Second Quarter and Six Months Ended June 30, 2015; Provides Sales Guidance for the Year 2015

Arch Coal Inc. reported unaudited consolidated earnings results the second quarter and six months ended June 30, 2015. For the quarter, the company reported net loss of $168.103 million, or $0.79 per diluted share compared to net loss of $96.860 million, or $0.46 per diluted share a year ago. Revenue was $644.462 million compared to $713.776 million a year ago. Loss from operations was $69.546 million compared to $35.805 million a year ago. Adjusted diluted LPS was $0.73 million compared to $0.46 million a year ago. Adjusted EBITDA was $45.328 million compared to $64.932 million a year ago. Loss before income taxes was $172.174 million compared to $131.729 million a year ago. Adjusted net loss was $154.331 million compared to $97.965 million a year ago. For the six months, the company reported net loss of $281.298 million, or $1.32 per diluted share compared to net loss of $220.999 million, or $1.04 per diluted share a year ago. Revenue was $1,321.467 million compared to $1,449.747 million a year ago. Loss from operations was $89.258 million compared to $108.927 million a year ago. Adjusted diluted LPS was $1.27 million compared to $1.06 million a year ago. Adjusted EBITDA was $127.100 million compared to $92.537 million a year ago. Loss before income taxes was $288.765 million compared to $299.479 million a year ago. Cash used in operating activities was $125.575 million compared to $78.346 million a year ago. Capital expenditure was $99.361 million compared to $95.746 million a year ago. Net debt was $4,456.935 million. Adjusted net loss was $269.696 million compared to $224.470 million a year ago. The company provided earnings guidance for the year 2015. The company has lowered the high end of its thermal guidance and now expects thermal sales volumes for 2015 to be in the range of 120 million tons to 124 million tons and total sales to be in the range of 126 million tons to 130.8 million tons. The company now expects a reduction of 2015 capital spending by $10 million versus its previous guidance and are now looking at a range of $130 million to $140 million, inclusive of land payments. Total interest expense is expected to be between $385 million and $395 million. The company’s cash interest expense will be between $360 million and $370 million for 2015.

Arch Coal Inc. to Report Q2, 2015 Results on Jul 30, 2015

Arch Coal Inc. announced that they will report Q2, 2015 results at 9:00 AM, Eastern Standard Time on Jul 30, 2015

Arch Coal Inc., Q2 2015 Earnings Call, Jul 30, 2015

Arch Coal Inc., Q2 2015 Earnings Call, Jul 30, 2015

 

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