Tulsa’s major coal company, Alliance Coal, LLC made recent changes for new credit of $425 million.
The company announced it entered into a credit agreement with various financial institutions including PNC Bank, National Association as administrative agency.
The agreement not only provides for a $425 million revolving credit facility, but a sublimit of $15 million for swingline borrowings. It also includes a term loan of $75 million.
The agreement will mature in March of 2027, the deadline for the outstanding principal amount of all revolving credit facility advances and term loan advances to be repaid in full.
The term loan carries a 6.25% interest rate.