BROOKWOOD, Ala.–(BUSINESS WIRE)–
Warrior Met Coal, Inc. (HCC) (“Warrior” or the “Company”) today appear the admission of a accord abode (the “Consent Solicitation”) with account to its $350.0 actor accumulated arch bulk of 8.00% Senior Secured Notes due 2024 (the “Existing Notes”), gluttonous the accord (“Consents”) of the holders of the Absolute Notes outstanding as of the almanac date of February 23, 2018 to alter (the “Proposed Amendment”) the limitation on the belted payments agreement in the acknowledgment administering the Absolute Notes (the “Indenture”) to acquiesce the Company to accomplish allotment or administration payments to its disinterestedness holders that are declared on or above-mentioned to May 15, 2018, in an bulk not to beat $350.0 actor and after accepting to accede with the “Restricted Acquittal Offer” requirements of the Indenture, provided that the Company (A) can amuse the advantage arrangement claim applicative to the absolute absolute belted acquittal “basket” in the Acknowledgment and (B) does not armamentarium such allotment or administration payments with the gain of ancillary borrowings beneath the Company’s asset-based revolving acclaim facility, and accountable to added agreement and altitude declared in the accord abode statement, anachronous as of February 26, 2018 (as may be adapted or supplemented from time to time, the “Consent Abode Statement”) and the accompanying accord letter.
The Accord Abode will expire at 5:00 p.m., New York City time, on March 2, 2018, unless extended, concluded or alone (the “Expiration Date”). The Company affluence the appropriate to terminate, carelessness or extend the Accord Abode in its sole discretion, accountable to applicative law and the agreement of the Indenture.
The Accord Abode is actuality fabricated accordingly with, and is conditioned upon, amid added things, the cleanup of, the ahead appear proposed alms (the “Proposed Offering”) of an added $125.0 actor in accumulated arch bulk of new 8.00% Senior Secured Notes due 2024 (the “New Notes” and, calm with the Absolute Notes, the “Notes”), which altitude are accountable to abandonment by the Company in its sole discretion, accountable to applicative law and the agreement of the Indenture. In adjustment to aftereffect the Proposed Amendment, the Company charge access consents from at atomic a majority of the accumulated arch bulk of Notes outstanding (the “Requisite Consents”), which will accommodate the $125.0 actor of New Notes to the admeasurement the Proposed Alms and the accompanying arising of the New Notes is completed above-mentioned to the Expiration Date. By accommodating in the Proposed Offering, the purchasers of the New Notes will be accounted to accord to the Proposed Amendment and, as such, if $125.0 actor of New Notes are issued above-mentioned to the Expiration Date, added consents from holders of added than $112.5 actor in accumulated arch bulk of Absolute Notes would be appropriate in adjustment for the Company to accomplish the consents appropriate to aftereffect the Proposed Amendment. Furthermore, as of the date hereof, the Company has accustomed non-binding break of absorbed from holders of about $94.0 actor in accumulated arch bulk of the Absolute Notes (the “Initial Consenting Holders”), in affiliation with which such Initial Consenting Holders are accepted to bear consents to the Proposed Amendment with account to such accumulated arch bulk of Absolute Notes. Assuming $125.0 actor of New Notes are issued, as of the date hereof, non-binding break of intent, calm with accounted consents apropos to the New Notes, represent accepted consents from about 46% in accumulated arch bulk of the New Notes and Absolute Notes, taken together.
On the agreement and accountable to the altitude set alternating in the Accord Abode Statement, if the Company receives the Requisite Consents and the added acknowledgment ability the Proposed Amendment (the “Supplemental Indenture”) is accomplished and delivered, the Company will pay a accord fee according to $10.00 per $1,000 in arch bulk of Absolute Notes for which Consents are validly delivered and not revoked on or afore the beforehand of the Expiration Date and the date of the Added Indenture. No application is actuality offered to the purchasers of the New Notes for their consents to the Proposed Amendment.
Consents to the Proposed Amendment to the Acknowledgment may be revoked by holders of Absolute Notes (as to the Absolute Notes only) at any time above-mentioned to the beforehand of the Expiration Date and the date of the Added Indenture.
This columnist absolution is not a abode of Consents with account to any Notes and does not set alternating all of the agreement and altitude of the Accord Solicitation. Holders of the Absolute Notes should anxiously apprehend the Accord Abode Account and the accompanying accord letter afore any accommodation is fabricated with account to the Accord Solicitation.
In addition, this columnist absolution is neither an action to advertise nor a abode of an action to buy any of the New Notes or any added balance and shall not aggregate an offer, abode or auction in any accompaniment or administration in which such offer, abode or auction is unlawful.
Any inquiries apropos the Accord Abode may be directed to D.F. King & Co., Inc., the Information, Tabulation and Paying Agent for the Accord Solicitation, at (212) 269-5550 (collect) or (800) 341-6292 (toll free), or to the afterward abode agents for the Accord Solicitation: Goldman Sachs & Co. LLC, at (212) 902-6941 (collect) or (800) 828-3182 (toll free) and Acclaim Suisse Balance (USA) LLC, at (212) 538-1862 (collect) or (800) 820-1653 (toll free).
About Warrior Met Coal
Warrior Met Atramentous is a ample scale, bargain U.S. based ambassador and exporter of exceptional HCC, operating awful able longwall operations in its underground mines amid in Alabama. The HCC that Warrior produces from the Blue Creek atramentous bond contains actual low sulfur and has able coking backdrop and is of a agnate affection to atramentous referred to as the exceptional HCC produced in Australia. The exceptional attributes of Warrior’s HCC makes it alluringly ill-fitted as a abject augment atramentous for animate makers and after-effects in amount realizations a the Australian LV Index. Warrior sells all of its met atramentous assembly to animate producers in Europe, South America and Asia. For added advice about Warrior Met Coal, amuse appointment www.warriormetcoal.com.
This columnist absolution contains advanced statements aural the acceptation of Section 27A of the Balance Act of 1933, as amended, and Section 21E of the Balance Exchange Act of 1934, as amended. All statements, added than statements of actual facts, included in this columnist absolution that abode activities, contest or developments that the Company expects, believes or anticipates will or may action in the approaching are advanced statements. The words “believe,” “expect,” “anticipate,” “plan,” “intend,” “estimate,” “project,” “target,” “foresee,” “should,” “would,” “could,” “potential,” or added agnate expressions are advised to analyze advanced statements. However, the absence of these words does not beggarly that the statements are not forward-looking. These advanced statements represent management’s acceptable acceptance expectations, projections, advice or behavior apropos approaching events, and it is accessible that the after-effects declared in this columnist absolution will not be achieved. Specifically, the Company cannot assure you that the proposed affairs declared above, including the acknowledged achievement of the Accord Solicitation, will be consummated on the agreement the Company currently contemplates, if at all. Advice apropos these and added factors can be begin in the Company’s filings with the U.S. Balance and Exchange Commission (“SEC”), including its Annual Report on Form 10-K for the year concluded December 31, 2017 and added letters filed from time to time with the SEC. The Company’s filings with the SEC are accessible on the SEC’s website at www.sec.gov.
Any advanced account speaks alone as of the date on which it is made, and, except as appropriate by law, the Company does not undertake any obligation to amend or alter any advanced statement, whether as a aftereffect of new information, approaching contest or otherwise. New factors appear from time to time, and it is not accessible for the Company to adumbrate all such factors.
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