The major coal mining company headquartered in Tulsa, Alliance Resource Partners, L.P., announced plans to redeem $50 million in senior notes due in two years.
It’s seen as a step toward reducing company debt.
The redemption involves the company’s 7.500% Senior notes which represent 12.5% of the $400 million in principal of notes that were originally issued and another 14.7% of the $339.2 million in notes currently outstanding.
The redemption price for the notes called for redemption will be equal to 100.00% of the principal amount, plus accrued and unpaid interest, if any, to the redemption date in accordance with the terms of the notes and the indenture under which the Notes were issued.
Alliance Resources is a diversified energy company that is also the largest coal producer in the eastern United States. ARLP also generates operating and royalty income from mineral interests it owns in strategic coal and oil & gas producing regions in the United States.