Walter Energy in Lender Talks to Alter Covenants, Increase Rates
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Walter Energy Inc. is negotiating an amendment to a credit pact that may result in its dividend being cut, according to a regulatory filing.
The coal-mining company is in talks with lenders to change debt covenants, increase the interest rate and require the reduction of the company’s dividend to a nominal amount, according to the filing. The miner has disbursed 12.5 cents per share each quarter since 2010, according to data compiled by Bloomberg.