Issuer:
|
Arch Coal, Inc. | |
Size:
|
$500,000,000 | |
Maturity:
|
October 1, 2020 | |
Coupon (Interest Rate):
|
7.250% | |
Yield to Maturity:
|
7.250% | |
Spread to Benchmark Treasury:
|
T+431 bps | |
Benchmark Treasury:
|
UST 3.500% due May 15, 2020 | |
Interest Payment Dates:
|
April 1 and October 1 of each year payable to the holders of record on the March 15 or September 15, immediately preceding such date. First interest payment date April 1, 2011. | |
Redemption Provision:
|
Beginning on October 1, 2015, the Company may redeem all or any portion of the Notes at the redemption prices set forth below, plus accrued and unpaid interest to the redemption date (subject to the right of Holders of record on the relevant record date to receive interest, if any, due on the relevant interest payment date). The following prices are for Notes redeemed during the 12-month period commencing on October 1 of the years set forth below, and are expressed as percentages of principal amount: |
| Year | Redemption Price | |||
2015 |
103.625 | % | ||
2016 |
102.417 | % | ||
2017 |
101.208 | % | ||
2018 and thereafter |
100.000 | % | ||
| At any time and from time to time, prior to October 1, 2013, on one or more occasions, the Company may redeem an aggregate principal amount of Notes not to exceed 35% of the original aggregate principal amount of the Notes (calculated giving effect to any issuance of Additional Notes) with the proceeds of one or more Public Equity Offerings, at a redemption price equal to 107.250% of the principal amount thereof, plus accrued |
| and unpaid interest to the redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date); provided, however, that after giving effect to any such redemption, at least 65% of the original aggregate principal amount of the Notes (calculated giving effect to any issuance of Additional Notes) remains outstanding immediately after the occurrence of such redemption (excluding Notes held by the Company or any of its Subsidiaries). | ||
Price to Public:
|
100% of principal amount | |
Settlement Date:
|
August 9, 2010 (T+5) | |
Joint Bookrunning Managers:
|
Banc of America Securities LLC Citigroup Global Markets Inc. Morgan Stanley & Co. Incorporated J.P. Morgan Securities Inc. |
|
Lead Manager:
|
PNC Capital Markets LLC | |
Co-Managers:
|
Barclays Capital Inc. BMO Capital Markets Corp. Credit Agricole Securities (USA) Inc. FBR Capital Markets & Co. Mitsubishi UFJ Securities (USA), Inc. Morgan Keegan & Company, Inc. Natixis Bleichroeder LLC Raymond James & Associates, Inc. RBS Securities Inc. Santander Investment Securities Inc. Simmons & Company International Stifel, Nicolaus & Company, Incorporated UBS Securities LLC U.S. Bancorp Investments, Inc. |
|
CUSIP/ISIN:
|
039380 AC4 / US039380AC46 |