Murray Energy seeks 10¼% noteholder consent for $150 million offering

By Susanna Moon

Chicago, Nov. 22 - Murray Energy Corp. said it is seeking consents to amend its 10¼% senior secured notes due 2015 to allow the company to sell up to $150 million of additional notes and remove its ability to redeem them at 103 before Dec. 15, 2012.

In exchange for the consents, the company will pay $10 in cash for each $1,000 principal amount of notes to holders of record as of 5 p.m. ET on Nov. 19.

The payment will be made after the solicitation ends at 5 p.m. ET on Nov. 29 and after the completion of the sale of $150 million of notes.

Murray began a roadshow on Nov. 16 for a $150 million offering of seven-year senior notes, Prospect News reported.

The Pepper Pike, Ohio-based privately owned coal company will use the proceeds for general corporate purposes, including the expansion of production capacity and preparation plant processing capacity at some mining complexes.

Jefferies & Co., Inc. (888 708-5831, collect 203 708-5831 or fax 203 724-4538) and Goldman Sachs & Co. are the solicitation agents for the solicitation, and Global Bondholder Services Corp. (866 612-1500, banks and brokers call 212 430-3774, fax to 212 430-3775/3779 and confirmation at 212 430-3774) is the information and tabulation agent.

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