Alpha completes notes offer

ALPHA has completed the cash tender offer for up to $350 million of 3.25% convertible senior notes due 2015.

Noel Dyson

Alpha Natural Resources and its subsidiary Alpha Appalachia Holdings are to make the payment in cash for all notes tendered after 5pm, New York city time, on October 11 and prior to the final expiration date of October 25.

They expect to fund the cash payment with a portion of the proceeds from Alpha’s $500 million offering of 9.75% senior notes due 2018, which closed on October 11.

Between the early expiration date and the final expiration Alpha received and accepted tenders in respect of an additional $162,000 aggregate principal amount of notes tendered on or before the early expiration date.

It received $122.5 million worth – or 18.6% – of the outstanding notes.

In all, they will be paying about $116 million.

Citigroup Global Markets and Barclays Capital served as the dealer managers for the tender offer and DF King served as the tender agent and information agent.

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