Cleary Gottlieb represented Alpha Natural Resources, Inc. in its issuance of $300 million 4.875% senior convertible notes due 2020. The 4.875% notes are guaranteed by certain of Alpha’s subsidiaries and may in certain circumstances be converted into Alpha’s common stock. The offering, a takedown from Alpha’s shelf registration statement, closed on December 18, 2013. The underwriters exercised their over-allotment option with respect to an additional $45 million aggregate principal amount of Notes on December 20, 2013. On December 26, 2013, Alpha closed the transaction for the over-allotment option.
Part of the proceeds of the offering were used to fund private repurchases of approximately $37 million of Alpha’s existing 2.375% convertible notes due 2015 and approximately $186 million of the existing 3.25% convertible notes due 2015 issued by Massey Energy Company (now Alpha Appalachia Holdings, Inc., a wholly owned subsidiary of Alpha).
The joint book-running managers for the offering were Barclays Capital Inc., BofA Merrill Lynch, Goldman Sachs & Co. and Deutsche Bank Securities Inc.
Alpha is a leading global coal company and the world’s third largest metallurgical coal supplier.
This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Cookie Policy.