Markets
U.S. open in 28 hrs, 59 mins
BUSINESS NEWS
- Market News
- Earnings
- Recalls
- Recession Watch
- Tech News
- Financial Crisis
- Madoff Scandal
- BloggingStocks
- Luxist
- Money Videos
INVESTING
- Stock Quotes
- Stock Charts
- Stock Ticker
- Currencies
- Portfolio
- Stock Screener
- Broker Center
- Mutual Fund Center
- ETF Center
- Money
- 24/7 Wall St.
- Financial Glossary
PERSONAL FINANCE AT WALLETPOP
- Bargains
- Banking
- Budget
- Calculators
- College Finance
- Community
- Credit
- Deals
- Debt
- Economizer
- Food
- Home
- Fraud
- Insurance
- Interest Rates
- Loans
- Mortgages
- Real Estate
- Recalls
- Recession
- Retirement
- Saving
- Simplification
- Specials
- Taxes
SMALL BUSINESS
James River Coal to offer $125 million in notes
AP
RICHMOND, Va. -James River Coal Co. said Wednesday that it plans to offer $125 million in convertible senior notes with interest rates to be set by negotiations with initial purchasers.
Another $18.75 million in notes would be issued to cover overallotments.
James River said it planned to use $57.3 million of the proceeds to terminate a letter of credit facility and the rest for working capital and general purposes.
The company said the notes would pay interest semiannually, mature in 2015 and be marketed to qualified institutional buyers. They could be converted to cash, common stock or a combination, at the company's option.
Shares of James River rose 24 cents, to $21.92 in regular trading, then sank $1.19, or 5.4 percent, in extended trading after news of the offer, which could dilute the value of current shares.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-11-11 17:05:39
COMMENTS ( 0 )
Latest Money News
CNNMoney
- Talk about a low interest rate: U.S. Treasury borrows $44 billion for less than 1%
- Google set to map the world - and push out GPS makers as a result?
- Washington Mutual gave a mortgage to O.J. Simpson
- Closing Bell: Economic Catapult for Thanksgiving & Black Friday (WMT, TGT, GRMN, GOOG, MSFT)
- Deere up on Q4 earnings performance