International Coal Group prices offering of $200 million in notes
By APThursday, March 11, 2010
International Coal Group prices debt offering
SCOTT DEPOT, W. Va. — International Coal Group Inc. said it will issue $200.0 million worth of 9.125 percent senior secured second-priority notes due 2018 at a price of 99.298 percent of their principal amount.
The offering is expected to close on March 22, and the notes will mature on April 1, 2018.
The company intends to use the proceeds to finance its previously announced cash tender offer and consent solicitation to buy back up to $175 million worth of its 10.25 percent senior notes due in 2014.
Shares of International Coal group were unchanged at $4.47 Thursday.
YOUR VIEW POINT
