Patriot Coal Corp. (PCX) has prepared financing in advance of a bankruptcy filing that might come as soon as today, Bloomberg News reported Monday citing two people with knowledge of the matter.
Citigroup Inc. (C), Barclays PLC (BCS) and Bank of America Corp. (BAC) will provide the debtor-in-possession financing, the people told Bloomberg.
Patriot, Citigroup, Barclays and Bank of America didn't immediately return phone calls from Bloomberg seeking comment.
The stock for the U.S. fuel producer was down 69% minutes before the close.
Full story at http://www.bloomberg.com/news/2012-07-09/patriot-said-to-get-funding-ahead-of-possible-bankruptcy.html
Write to firstname.lastname@example.org