.@ArchCoals management hopes to use bankruptcy protection to shed $4.5 billion in debt.
In case you somehow missed the news, Arch Coal, North Americas second largest coal company, filed for bankruptcy a few weeks back. Archs management hopes to use bankruptcy protection to shed $4.5 billion in debtmoney that Arch borrowed from investors near the peak of the coal market, but that the company cant pay back now that coal prices have tumbled.
To anyone paying attention, Archs insolvency came as no surprise. The company had missed a bond interest payment in mid-December after unsuccessful negotiations with creditors. Besides, coal industry bankruptcies are a dime a dozen at this point: Alpha Natural Resources, the #4 c…
Read the full article at: http://www.sightline.org/2016/02/02/five-stories-to-watch-in-the-arch-coal-bankruptcy/