Wednesday, James River Coal Co. (JRCC) said it intends to offer $125 million aggregate principal amount of convertible senior notes due 2015 to qualified institutional buyers. James River also intends to grant to the initial purchasers of the Notes an option to purchase up to an additional $18.75 million aggregate principal amount of the Notes solely to cover over-allotments, if any.
The company noted that the notes will be general unsecured senior obligations of James River, will pay interest semi-annually and will be convertible during certain periods and under certain circumstances. Upon conversion, holders of the Notes will receive, at the election of James River, cash, shares of James River's common stock or a combination of cash and shares of James River's common stock.
James River intends to use approximately $57.3 million of the net proceeds in connection with the termination of our letter of credit facility, and the remaining for working capital and general corporate purposes, which may include acquiring or investing in business or other assets or repayment of outstanding debt.
James River Coal Co., through its subsidiaries, engages in mining, processing, and selling bituminous, steam, and industrial-grade coal in eastern Kentucky and southern Indiana. It conducts mining operations in Bell County, Bledsoe, Blue Diamond, Leeco, McCoy Elkhorn, and Triad mining complexes.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.