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Cloud Peak intends to launch tender offer for debt holders on June 7

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Cloud Peak intends to launch tender offer for debt holders on June 7

Cloud Peak Energy Inc. intends to launch a tender offer on June 7, the company disclosed in a June 4 securities filing.

The offer will provide the opportunity for holders of Cloud Peak's second lien senior secured notes due 2021 to participate as a lender in a previously announced $35.0 million superpriority secured priming debtor-in-possession credit agreement and to exchange, or "roll up," a principal amount equal to 80% of their commitments as a lender under the debtor-in-possession credit agreement for an equal amount of additional loans under the debtor-in-possession credit agreement.

The tender offer is open to holders of the notes issued by Cloud Peak Energy Resources LLC and Cloud Peak Energy Finance Corp. as of May 17. Cloud Peak filed for a bankruptcy reorganization on May 10 and has proposed holding an auction for its assets in June.