| Creditor sues Arch Coal's lenders for trying to block debt swap | |
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Sept 17 (Reuters) - A creditor of Arch Coal Inc has sued a group of lenders alleging they are trying to use the struggling U.S. miner's credit agreement to block its out-of-court restructuring efforts and push it into bankruptcy. The transaction is expected to help the company reduce its total debt by almost 20 percent and its annual interest expense by more than 20 percent, it said. Coal producers including Arch Coal have been under pressure as power utilities switch to cheaper natural gas and big consumers such as China reduce imports. Arch Coal officials or GSO Capital Partners LP were not immediately available for comment. The case has been filed in the New York State Supreme Court dated Sept. 16 and Index no.- 653110/2015. (Reporting by Sangameswaran.S; Editing by Anupama Dwivedi)
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VanEck Vectors Global Alternative Energy ETF
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PRODUCER |
CODE : ACI |
ISIN : US0393801008 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Arch Coal is a coal producing company based in United states of america. Arch Coal holds various exploration projects in USA. Its main assets in production are WEST ELK, BLACK THUNDER and JACOB'S RANCH in USA and its main asset in development is SPRUCE N° 1 in USA. Arch Coal is listed in Germany and in United States of America. Its market capitalisation is 868.2 millions as of today (€ 793.3 millions). Its stock quote reached its highest recent level on June 27, 2003 at 99.96, and its lowest recent point on October 01, 2018 at 0.01. Arch Coal has 47 442 200 shares outstanding. |