In conjunction with the 2020 exchange offer, Arch solicited consents from holders of 2020 Notes to the adoption of proposed amendments to the indenture governing the 2020 notes to modify certain restrictive covenants contained to conform to Arch's other indentures, including with respect to the issuance of additional secured debt.
Arch has received consents to the proposed amendments from holders of greater than a majority of the outstanding aggregate principal amount of 2020 notes.
The supplemental indenture to the indenture governing the 2020 notes has been executed.
The provisions will not be operative until all of the 2020 notes that have been tendered prior to the date of the supplemental indenture have been accepted for exchange and exchanged in accordance with the terms of the 2020 exchange offer.
