Westmoreland Coal Co. completes refinancing of Westmoreland Mining LLC debt

摘要

Westmoreland Coal Co. has completed the debt refinancing of its wholly owned subsidiary, Westmoreland Mining LLC, which encompasses the operation of the Beulah, Jewett, Rosebud, and Savage Mines. The new financing, arranged by PNC Capital Markets LLC, consists of a 125 million dollars term loan and a 25 million dollars revolving line of credit. The proceeds of the new financing will be used to pay-off existing Westmoreland Mining LLC debt, allow a one-time dividend to Westmoreland Coal Co., and provide adequate liquidity to meet the currently expected needs of the existing Westmoreland Mining LLC operations.