Arch Coal terminates debt offering

Photo courtesy of Creative Commons
Photo courtesy of Creative Commons

Arch Coal has terminated its previously announced debt offer and continues to work with creditors to restructure its balance sheet.

The company was looking to swap $2.38 billion of junior-ranked borrowing for new senior obligations to restructure part of its $5.1 billion debt. Analysts have said that completion of Arch’s debt swap is key to staving off bankruptcy.

The deadline for the debt exchange plan was Oct. 26.

Read more from the St. Louis Business Journal


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