International Coal to Offer Notesadmin
International Coal Group Plans to Offer $250 Million of Senior Notes
Coal mining company International Coal Group Inc. said Friday that it plans to make a private offering of $250 million of senior notes due 2014.
International Coal said it intends to use the proceeds to repay its revolving credit facility and retire its term loan facility, to fund future capital expenditures, and for general corporate purposes.
The company, which owns the Sago Mine in West Virginia, on Wednesday cut its full-year outlook, citing higher diesel costs and problems at its underground mines.
In January, an explosition at the Sago Mine resulted in the deaths of 12 miners.