Foresight Energy LP received consent to amend agreements with its debt holders to extend a grace period on a required debt payment from 90 days to 150 days.
The company said in a securities filing that by a Dec. 19 deadline, the majority of the holders of its 11.50% second lien secured notes due 2023 consented to the amendment. The amendment also eliminates a requirement that Foresight hold a publicly accessible conference call to discuss its financial information during the relevant fiscal period.
"The partnership continues to engage in discussions with its creditor constituencies and explore potential restructuring alternatives," Foresight wrote in its filing. "We continue to experience substantial financial, business, operational and reputational risks that threaten our ability to continue as a going concern and could materially affect our present expectations and projections."
Foresight was recently delisted from the New York Stock Exchange due to low trading levels. Foresight is controlled by Murray Energy Corp., a privately held coal producer that filed for bankruptcy organization earlier in the year.