Westmoreland Successfully Adds New Lender to Credit Facility; East West Bank to Replace Bank of the West
October 13 2016 - 4:15PM
Westmoreland Coal Company (Nasdaq:WLB) today announced it has
successfully added East West Bank as a 50% participant in its
parent level revolving credit line in place of Bank of the
West.
“We are excited to have East West Bank join our long-term
partner, The Private Bank, in our revolver and we appreciate their
support and confidence in our business model and strategy,” said
Jason Veenstra, Westmoreland’s Chief Financial Officer. “We
are thankful to Bank of the West for their support over the years
including their continued involvement in the Westmoreland Resource
Partners’ revolver.”
For more details on this and Westmoreland’s other debt
instruments, please refer to the company’s public filings
at www.westmoreland.com
About Westmoreland Coal Company
Westmoreland Coal Company is the oldest independent coal company
in the United States. Westmoreland’s coal operations include
surface coal mines in the United States and Canada, underground
coal mines in Ohio and New Mexico, a char production facility, and
a 50% interest in an activated carbon plant. Westmoreland
also owns the general partner of and a majority interest in
Westmoreland Resource Partners, LP, a publicly-traded coal master
limited partnership (NYSE:WMLP). Its power operations include
ownership of the two-unit ROVA coal-fired power plant in North
Carolina. For more information, visit
www.westmoreland.com.
For further information please contact
Gary Kohn, Vice President Investor Relations
1-720-354-4467
gkohn@westmoreland.com