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March 29, 2015 9:49 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Murray Energy Corporation

Company Overview

Murray Energy Corporation, along with its subsidiaries, produces and delivers bituminous coal to electric utility and industry customers in the United States and internationally. The company transports its coal via truck, rail, and waterways. The company's business also includes a diesel and mining equipment rebuilding facility in West Virginia. Murray Energy Corporation was founded in 1988 and is headquartered in St. Clairsville, Ohio with mining projects in Illinois, Ohio, Kentucky, and Utah. The company also has a financial services operation in Powhatan Point, Ohio; and a marketing and sales office in Lexington, Kentucky.

46226 National Road

St. Clairsville, OH 43950

United States

Founded in 1988

Phone:

740-338-3100

Fax:

740-338-3405

Key Executives for Murray Energy Corporation

Founder, Chairman, Chief Executive Officer and President
Chief Financial Officer, Executive Vice President of Operations and Member of the Board of Directors
Senior Vice President, Secretary and General Counsel
Senior Vice President of Marketing and Sales
Vice President of Engineering & Planning
Compensation as of Fiscal Year 2014.

Murray Energy Corporation Key Developments

Murray Energy Corporation Announces Offering of Senior Secured Notes

Murray Energy Corporation announced that it intends to offer, subject to market and other conditions, $1.55 billion in aggregate principal amount of senior secured notes due 2020 and 2023 through an offering to qualified institutional buyers within the United States pursuant to Rule 144A under the Securities Act of 1933, as amended and to persons outside the United States pursuant to Regulation S under the Securities Act. Murray Energy intends to use the net proceeds from the sale of the Notes, to finance a portion of the consideration for the acquisition of interests in Foresight Energy GP LLC and Foresight Energy LP and fund its concurrent tender offers for any and all of its outstanding 8.625% senior secured notes due 2021 and its outstanding 9.50% senior secured notes due 2020. The Notes will not be registered under the Securities Act or applicable state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. This release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to purchase any of the Notes, nor shall there be any sale of the Notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. Any offers of the Notes will be made only by means of a private offering memorandum.

Murray Energy Corporation Extends Consent Solicitations Relating to its 8.625% Senior Secured Notes Due 2021 and 9.50% Senior Secured Notes Due 2020

Murray Energy Corporation announced that it has extended the expiration date for its previously announced solicitations of consents from holders of its outstanding 8.625% Senior Secured Notes due 2021 and 9.50% Senior Secured Notes due 2020 to approve amendments to the indenture relating to the 2013 Notes and the indenture relating to the 2014 Notes and related security agreements. Each Consent Solicitation will now expire at 5:00 p.m., New York City time, on March 25, 2015.

Murray Energy Corporation Announces Consent Solicitation for 8.625% Senior Secured Notes Due 2021 and 9.50% Senior Secured Notes Due 2020

Murray Energy Corporation announced that it will solicit consents from holders of its outstanding 8.625% Senior Secured Notes due 2021 and from holders of its outstanding 9.50% Senior Secured Notes due 2020 to approve amendments to the indenture relating to the 2013 Notes and the indenture relating to the 2014 Notes. The company is seeking the consent of holders to the Proposed Amendments in order to facilitate the implementation of changes to its capital structure in connection with the acquisition of interests in Foresight Energy GP LLC and Foresight Energy LP (the Acquisition), and to provide the Company with additional operational flexibility following the Acquisition. In particular, the Proposed Amendments will allow the incurrence of additional secured indebtedness in order to finance and facilitate the Acquisition. Murray Energy will make a cash payment of $50.00 per $1,000 in aggregate principal amount of 2013 Notes and $75.00 per $1,000 in aggregate principal amount of 2014 Notes held by each holder of such Notes as of the Record Date (as defined below) who has validly delivered the applicable consent at or prior to the Expiration Time (as defined below) and who has not validly revoked such consent before the Effective Time (the Consent Fee), if the conditions set in the Consent Solicitation Statement, dated March 16, 2015 (as may be amended or supplemented from time to time, the Consent Solicitation Statement) have been satisfied with respect to such Notes or, where possible, waived. These conditions include the receipt of valid consents (which consents have not been properly revoked) with respect to a majority in aggregate principal amount of the outstanding 2013 Notes or 2014 Notes, as applicable, not owned by Murray Energy or any affiliate of Murray Energy (the Requisite Consents) prior to the expiration of the applicable Solicitation Period. A portion of the applicable Consent Fee is contingent on the consummation of the Acquisition. The company anticipates that, promptly after receipt of the Requisite Consents prior to the Expiration Time, the company and The Bank of New York Mellon, as trustee, will execute and deliver a supplemental indenture with respect to the Indenture governing the 2013 Notes and/or the Indenture governing the 2014 Notes, as applicablec (each, a Supplemental Indenture). However, neither Supplemental Indenture will become operative until consummation of the Acquisition, whereupon the Proposed Amendments relating to the 2013 Notes and/or 2014 Notes, as applicable, will apply to all the 2013 Notes and/or 2014 Notes, as applicable, that are outstanding, including those held by Holders who did not give their consent to such solicitation. Non-consenting Holders will not receive any Consent Fee. Each of the consent solicitations will expire at 5:00 p.m., New York City time, on March 24, 2015. Only holders of record of the Notes as of 5:00 p.m., New York City time, on March 13, 2015 are eligible to deliver consents to the Proposed Amendments in the consent solicitations.

Similar Private Companies By Industry

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Natural Innovative Renewable Energy, L.L.C. United States
Turner Gas Company Inc. United States

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
March 15, 2015
50% Interest in Foresight Energy LP And 80% Interest in Foresight Energy GP And Access to Facilities
Merger/Acquisition
October 28, 2014
CONSOL Energy Inc., 100 Million Tons of Coal Reserves in Illinois
 

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