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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.