Westmoreland Coal forbearances, support deadline extended to Oct. 8

By Caroline Salls

Pittsburgh, Oct. 5 – Westmoreland Coal Co.’s senior secured notes and term loan forbearance periods have been extended to Oct. 8 from Oct. 5, according to an 8-K filed Friday with the Securities and Exchange Commission.

The noteholder forbearance was granted under an agreement with some holders of Westmoreland Coal’s senior secured notes due 2022 trustee and collateral agent U.S. Bank, NA and the term loan forbearance with administrative agent Wilmington Savings Fund Society, FSB.

The company’s deadline for entering into a restructuring support agreement, in accordance with a bridge loan agreement with members of an informal group of first-lien lenders and noteholders, was also extended to Oct. 8 from Oct. 5.

Westmoreland is an Englewood, Colo.-based coal company.

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