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Arch Coal $2 billion Chapter 11 restrucutring

5/10/2016
Restructuring
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$ 2 billion

Completed

5/10/2016

Overview:

  • Arch Coal filed for Chapter 11 bankruptcy on January 11, 2016.
  • The company obtained a $275 million debtor-in-possession (DIP) credit facility and a $200 million trade accounts receivable securitisation facility.
  • Wilmington Trust, National Association acted as administrative agent for the DIP credit facility.
  • PNC, acted as administrator for the DIP credit facility and as Collateral Agent and Revolver Administrative Agent for the chapter 11 case. 
  • Kinder Morgan, UMB Bank,  GSO Capital Partners, Nelson Brothers, Bennett Management, Wyoming Machinery and Pension Benefit Guaranty acted as unsecured creditors. 
  • The company exited bankruptcy October 5, 2016.

Rani Mehta - Journalist 

 

 

 

Jurisdiction:

United States

Deal type:

Restructuring

Practice area:

Restructuring

Industry sector:

Natural resources

Firms:
Davis Polk & Wardwell

Party: Arch Coal (Debtor)

Lawyers: Brian Resnick, Marshall Huebner

Kramer Levin Naftalis & Frankel

Party: KInder Morgan (Creditor)

Party: GSO Capital Partners (Creditor)

Party: UMB Bank (Creditor)

Party: Nelson Brothers (Creditor)

Party: Bennett Management (Creditor)

Party: Wyoming Machinery (Creditor)

Party: Pension Benefit Guaranty (Creditor)

Lawyer: Thomas Moers Mayer

Mayer Brown

Party: PNC Capital Markets (Administrator)

Lawyers: Brian Trust, Richard Ziegler

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