Warrior Met Coal Inc. closed a restricted payment offer for up to $150 million of its 8.00% senior secured notes due 2024 at 103% of the aggregate principal amount and a separate tender offer for $150 million of the notes at 104.25%, according to a March 25 release.
The restricted payment offer resulted in $1.9 million of notes tendered, with $599,000 accepted. The tender offer generated $415.1 million in tenders, with $131 million accepted.
Both offers expired March 22 at 5 p.m. ET., leaving $343.4 million of the notes outstanding. Warrior expects to make payments for the restricted offer on March 25 and for the tender offer on March 26.
D.F. King & Co. Inc. acted as the agent for both offers, while Goldman Sachs & Co. served as the dealer manager for the tender offer.