Alliance Resource Partners, L.P. Announces Pricing of $400 Million Offering of Senior Notes
April 07 2017 - 4:52PM
Business Wire
Alliance Resource Partners, L.P. (NASDAQ: ARLP) ("ARLP")
announced today that Alliance Resource Operating Partners, L.P.
("AROP"), a subsidiary of ARLP, and Alliance Resource Finance
Corporation, AROP’s wholly owned subsidiary, priced their
previously announced private placement to eligible purchasers of
$400 million aggregate principal amount of senior unsecured
notes due 2025. The notes will be issued at par and bear interest
at 7.5% per annum. The offering is expected to close on April 24,
2017, subject to customary closing conditions.
AROP expects to use a portion of the net proceeds from the
offering to repay outstanding Series B senior notes due 2018 and
the term loan under its credit facility and use the remainder of
the net proceeds to repay a portion of the revolving borrowings
outstanding under its revolving credit facility.
The notes have not been, and will not be, registered under the
Securities Act of 1933, as amended (the "Securities Act"), or under
the securities laws of any other jurisdiction. Thus, the notes may
be offered only in transactions that are exempt from registration
under the Securities Act and applicable state securities laws. The
notes are offered only to qualified institutional buyers under
Rule 144A and to persons outside the United States under
Regulation S of the Securities Act. The notes will not be
listed on any securities exchange or automated quotation
system.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. The offering may be made
only by means of an offering memorandum.
About Alliance Resource Partners, L.P.
ARLP is a diversified producer and marketer of coal to major
United States utilities and industrial users. ARLP, the nation’s
first publicly traded master limited partnership involved in the
production and marketing of coal, is currently the second largest
coal producer in the eastern United States with mining operations
in the Illinois Basin and Appalachian coal producing regions.
ARLP currently operates eight mining complexes in Illinois,
Indiana, Kentucky, Maryland and West Virginia. ARLP also operates a
coal loading terminal on the Ohio River at Mount Vernon,
Indiana.
Cautionary Note Concerning Forward-Looking Statements
Certain statements contained in this news release constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements represent ARLP’s expectations or beliefs concerning
future events, and it is possible that the results described in
this news release will not be achieved. These forward-looking
statements are subject to risks, uncertainties and other factors,
many of which are outside of ARLP's control, which could cause
actual results to differ materially from the results discussed in
the forward-looking statements. Any forward-looking statement
speaks only as of the date on which it is made, and, except as
required by law, ARLP does not undertake any obligation to update
or revise any forward-looking statement, whether as a result of new
information, future events or otherwise. New factors emerge from
time to time, and it is not possible for ARLP to predict all such
factors. When considering these forward-looking statements, you
should keep in mind the risk factors and other cautionary
statements found in ARLP’s filings with the SEC, including, but not
limited to, ARLP’s Annual Report on Form 10-K for the year ended
December 31, 2016 and Current Reports on Form 8-K. The risk factors
and other factors noted in ARLP’s SEC filings could cause actual
results to differ materially from those contained in any
forward-looking statement.
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version on businesswire.com: http://www.businesswire.com/news/home/20170407005705/en/
Alliance Resource Partners, L.P.Brian L. Cantrell,
918-295-7673
Alliance Resource Partners (NASDAQ:ARLP)
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