Foresight Energy said to be close to agreement to avoid bankruptcy

St. Louis-based Foresight Energy and a group of bondholders are close to a deal that would have Foresight founder Chris Cline inject cash into the company to repay creditors, people with knowledge of the matter tell Bloomberg.

Bondholders claim they are owed more than $600 million to stave off bankruptcy.

Under the deal being discussed, Cline would buy some or all of that debt. He also may invest capital in Foresight’s part-owner, Murray Energy Corp.

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