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Foresight Energy completes debt refinancing

Foresight Energy LP, along with its wholly owned subsidiaries Foresight Energy LLC and Foresight Energy Finance Corp., completed refinancing its existing debt.

Foresight refinanced its second-lien senior secured PIK notes due 2021, second-lien senior secured exchangeable PIK notes due 2017, as well as its revolving credit facility and a term loan, according to a Form 8-K filed March 28.

The issuers used a new debt financing, comprising $425 million aggregate principal amount of new senior secured second-priority notes due 2023 and borrowings under new senior secured first-priority credit facilities, including a new $825.0 million term loan, and a new $170.0 million revolving credit facility. It also used proceeds from Murray Energy Corp.'s investment and cash on hand.

Murray's investment represented $60.6 million after it purchased the company's 9,628,108 common units. The proceeds from the investment were used to repay $54.5 million aggregate principal amount of the second-lien notes.