On Thursday, Shares of Arch Coal Inc (NYSE:ACI), gained 6.90% to $0.355.
Arch Coal Inc, declared the launch of a private offer to exchange new 6.25% Trust Certificates due 2021 and a cash payment for any and all of its outstanding 7.25% Senior Notes due 2020. Holders of about 56.9% of the aggregate principal amount of outstanding 2020 Notes have executed agreements with Arch committing to take part in the Exchange Offer and the Consent Solicitation referred to below.
The Trust Certificates represent a fractional undivided interest in Arch Pass Through Trust, a Delaware statutory trust whose only assets will be (i) senior secured term loans due 2021 issued as incremental debt under Arch’s existing credit agreement and (ii) senior secured revolving commitments. The New Revolving Loans will be transferred to the Trust either by the assignment of existing revolving commitments or by the creation of an incremental revolving credit facility in lieu of the existing revolving credit facility, and all existing commitments would be terminated at the closing of this transaction. The aggregate principal amount of New Term Loans and New Revolving Loans outstanding at any time may not exceed $404 million, and will be equal to the principal amount of Trust Certificates issued in the Exchange Offer and in a concurrent exchange offer. The Trust is not, and will not be, a partner or associate of Arch and the Trust Certificates will not be guaranteed or insured by any person or entity, counting Arch.
Arch Coal, Inc. produces and sells thermal and metallurgical coal from surface and underground mines located in the United States. As of December 31, 2014, it operated or contracted out the operation of 16 mines; and owned or controlled about 5.1 billion tons of proven and probable recoverable reserves.
Shares of SCANA Corporation (NYSE:SCG), inclined 1.70% to $ 51.97, during its last trading session.
SCANA Corporation, declared that it has reached a settlement agreement with the South Carolina Office of Regulatory Staff and the South Carolina Energy Users Committee (one of the three interveners) related to the Company’s petition to update construction and capital cost plans for the new nuclear units. The settlement agreement is subject to approval by the Public Service Commission of South Carolina (PSC). A public hearing on SCE&G’s petition request is planned to start on July 21, 2015.
This settlement agreement signifies that no contested issues exist among the settling parties and supports approval of the revised construction and capital cost plans. In addition to supporting approval of the revised construction and capital cost plans, the settling parties agreed to revise the allowed Return on Equity (ROE) for the new nuclear project from 11.00% to 10.50%. The revised ROE will be applied prospectively for the purpose of calculating revised rates sought by the Company under the Base Load Review Act on and after January 1, 2016, until such time as the new nuclear units are accomplished. If the PSC approves the settlement agreement in its entirety, then none of the settling parties may appeal the PSC’s decision.
SCANA Corporation, through its auxiliaries, engages in the generation, transmission, distribution, and sale of electricity to retail and wholesale customers in South Carolina. It owns nuclear, coal, hydro, natural gas and oil, and biomass generating facilities.
Finally, Acadia Healthcare Company Inc (NASDAQ:ACHC), ended its last trade with -0.19% loss, and closed at $79.83.
Acadia Healthcare Company Inc, declared that it has accomplished the formerly declared acquisition of Belmont Behavioral Health from not-for-profit Einstein Healthcare Network. The attained assets comprise primarily of an inpatient behavioral healthcare facility with 147 beds serving the greater Philadelphia, Pennsylvania market.
In addition, Acadia declared the acquisition of The Manor Clinic, a 15-bed residential rehabilitation facility in Southampton, which is primarily focused on addictions treatment.
Acadia Healthcare Company, Inc. develops and operates inpatient psychiatric facilities, residential treatment centers, group homes, and substance abuse facilities providing outpatient behavioral healthcare services to serve the behavioral health and recovery needs of communities in the United States, the United Kingdom, and Puerto Rico.
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