James River Coal Co (JRCC) said it has priced an offering of $150 million principal amount of 4.5% convertible senior notes due 2015. James River also granted the initial purchasers of the Notes an option to purchase up to an additional $22.50 million aggregate principal amount of the Notes solely to cover over-allotments, if any.
Net proceeds from the sale of the Notes will be approximately $145.0 million, after deducting the initial purchasers' discounts and commissions and estimated offering expenses payable by James River. James River expects the offering to close on November 20, 2009.
James River intends to use approximately $57.3 million of the net proceeds in connection with the termination of its 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.
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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.