Patriot Coal Looks To Pursue $576M Ch. 11 Exit Financing

Law360, New York (October 31, 2013, 6:43 PM ET) -- Patriot Coal Corp. on Thursday asked the bankruptcy judge overseeing its Chapter 11 proceedings for permission to arrange $576 million in exit financing that it said is necessary to fund its proposed reorganization plan.

The company is pursuing a $250 million exit senior secured term loan facility, a $125 million exit senior secured asset-based revolving credit facility and a $201 million letter of credit facility, according to court documents. Though it will seek approval of the financing in conjunction with its plan confirmation at a later...
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Case Information

Case Title

Patriot Coal Corporation


Case Number

4:12-bk-51502

Court

Missouri Eastern

Nature of Suit

Date Filed

July 9, 2012

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Companies