Walter Energy Launches $320 Mln Private Senior Notes Offering

(RTTNews) - Walter Energy Inc. (WLT) said Tuesday that it has commenced a private offering of $320.0 million aggregate principal amount of 9.500% senior secured notes due 2019.

The Notes are a follow-on issue to the $450.0 million aggregate principal amount of Walter Energy's 9.500% senior secured notes due 2019 which were issued on September 27, 2013 and Walter Energy's $200.0 million aggregate principal amount of 9.500% senior secured notes due 2019 which were issued on March 27, 2014.

Walter Energy said it plans to use the net proceeds of the offering of the Notes to repay $298.1 million of indebtedness outstanding under its Revolving Credit Facility and to pay related fees and expenses.