Murray Energy Swaps Debt on Heels of Trump Plan to Boost Coal

Murray Energy Corp., the coal miner led by Robert E. Murray, said some of its debt holders agreed to refinance a chunk of the company’s bonds and loans as the Trump administration makes a new push to buoy the struggling fossil fuel industry.

The deal cuts debt and gives Murray Energy more time to repay obligations, in return for a higher interest rate and more collateral, the company said in a statement. It comes as the U.S. Energy Department makes plans to exercise emergency authority to force grid operators to buy electricity from struggling coal and nuclear power plants.