July 26, 2017 11:58 PM ET

Oil, Gas and Consumable Fuels

Company Overview of International Coal Group, Inc.

Company Overview

International Coal Group, Inc. produces coal in northern and central Appalachian regions, the United States. It offers a range of mid-to high-Btu, low- to medium-sulfur steam, and metallurgical coal. The company operates 12 Appalachian mining complexes located in West Virginia, Kentucky, Virginia, and Maryland; and a mining complex of mid-to high-sulfur steam coal located in the Illinois Basin. International Coal Group, Inc. markets its coal to various customers, including investment grade electric utilities, as well as domestic and international industrial and steel customers. International Coal Group, Inc. was formerly known as Horizon Natural Resources Company and changed its name in Octo...

300 Corporate Centre Drive

Scott Depot, WV 25560

United States

2,766 Employees

Phone:

304-760-2400

Key Executives for International Coal Group, Inc.

President
Age: 51
Senior Vice President, Secretary and General Counsel
Age: 56
Senior Vice President of Kentucky-Illinois Region
Age: 61
Vice President of Investor Relations and Public Relations
Senior Vice President of Mining Services
Age: 62
Compensation as of Fiscal Year 2017.

International Coal Group, Inc. Key Developments

Fourth Amended Reorganization Plan Approved for Arch Coal Inc.

The US Bankruptcy Court approved the fourth amended plan of reorganization of Arch Coal Inc. on September 13, 2016. As per the approved plan, administrative expense claims of $264 million, priority tax claims of $22.3 million, professional fee claims and DIP facility claims of $275 million shall be paid in full in cash. Other priority claims of $0.7 million, contingent securitization obligations of $178 million and other secured claims of $41.47 million shall receive cash in full satisfaction. First Lien Credit Facility secured claims of $1.89 billion shall receive total cash payment equal to the greater of $144.80 million less the amount of the adequate protection payments and $30 million; $326.5 million in principal amount of New First Lien Debt; and 94% of the new common stock. General unsecured claims of $394 million shall receive a recovery of 1.9 % and shall be paid in cash. Unsecured Funded Debt Claim of Unsecured Funded Debt claims of $4.46 billion shall receive ratable share of cash, new warrants and new common stock. Section 510(b) Claims shall neither receive any distributions nor retain any property on account thereof pursuant to the Plan. All Section 510(b) Claims shall be canceled and extinguished. The holders of Interests in Arch Coal shall neither receive any distributions nor retain any property on account thereof pursuant to the Plan. All Interests in Arch Coal shall be canceled and extinguished. The Interests in the Subsidiary Debtors shall be, in Reorganized Arch Coal’s sole discretion, Reinstated or canceled on the Effective Date or as soon thereafter as reasonably practicable. The plan shall be funded from debtor’s cash in hand, new first lien debt and from issuance of new common stock.

Fourth Amended Reorganization Plan Filed by Arch Coal Inc.

Arch Coal Inc., along with its affiliates, filed a fourth amended joint plan of reorganization in the US Bankruptcy Court on September 11, 2016. Treatment of all the classes of claims remain same as per the previous plan.

Third Amended Joint Reorganization Plan and Disclosure Statement Filed by Arch Coal Inc.

Arch Coal Inc., along with its affiliates, filed a third amended joint plan of reorganization with related disclosure statement in the US Bankruptcy Court on July 6, 2016. As per the amended plan filed, First Lien Credit Facility secured claims of $1.89 billion shall receive total cash payment equal to the greater of $144.80 million less the amount of the adequate protection payments and $30 million; $326.5 million in principal amount of New First Lien Debt; and 94% of the new common stock. Unsecured Funded Debt claims of $4.46 billion shall receive ratable share of $22.636 million in cash, new warrants or $25 million in cash, and new common stock. General unsecured claims of $394 million shall receive its ratable share of the GUC cash distribution with recovery of 1.9%. No other changes were made in the treatment of other claim classes.

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