James River Coal Co. (JRCC) said that it intends to offer $125 million of convertible senior notes due 2015.
The company also plans to grant to the initial purchasers of the notes an option to purchase up to an additional $18.75 million of the notes solely to cover over-allotments, if any.
James River said it will use about $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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