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ST. LOUIS, May 22, 2012 /PRNewswire via COMTEX/ -- Earlier this month,
Patriot Coal Corporation PCX -30.33% announced that it entered into a
commitment letter for a new revolving credit facility and new term loan
facility for a total of $625 million from Citigroup Global Markets, Inc.,
Barclays Bank PLC and Natixis, New York Branch. Patriot Coal Corporation is
continuing to work with these lenders to strengthen its finances, including
the replacement of its current credit facilities well before certain of its
debt obligations become due in March 2013. Patriot Coal Corporation has
engaged The Blackstone Group and continues to work with Davis Polk &
Wardwell LLP, its long-standing counsel, to achieve an optimal financing
package.
Patriot Coal Corporation PCX -30.33% announced that it entered into a
commitment letter for a new revolving credit facility and new term loan
facility for a total of $625 million from Citigroup Global Markets, Inc.,
Barclays Bank PLC and Natixis, New York Branch. Patriot Coal Corporation is
continuing to work with these lenders to strengthen its finances, including
the replacement of its current credit facilities well before certain of its
debt obligations become due in March 2013. Patriot Coal Corporation has
engaged The Blackstone Group and continues to work with Davis Polk &
Wardwell LLP, its long-standing counsel, to achieve an optimal financing
package.