Walter Energy Closes $450 Mln Offering; Shares Bounce Back From New 52-Week Low

Comment

Shutterstock photo

Shares of Walter Energy Inc. ( WLT ) touched a new 52-week low of $27.30 earlier in the session, but have bounced well above that level to trade in the black at $28.52, up 1.8% in mid-day trade.

The rebound came after the company announced the closing of its private offering of $450 million aggregate principal amount of its 8.5% senior notes due 2021.

Walter Energy plans to use the net proceeds of the offering to repay $250 million of indebtedness outstanding under its credit facilities and the remainder for general corporate purposes.

WLT has a day's range of $27.30 - $28.96, with a 52-week high of $69.41.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.



This article appears in: Investing Commodities
Referenced Stocks: WLT


More from MT Newswires

Subscribe






MT Newswires
Contributor:

MT Newswires

Market News, Commodities
Follow on:


Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com