Virginia, US-based metallurgical coal producer Alpha Natural Resources Inc. announced on April 15 that it has amended and extended the maturity of its secured credit facility by approximately three years, with a final maturity of July 31, 2014.
The amendment, among other revisions, includes an increase in the size of the revolving credit facility from $650 million to $854.4 million, during the extension period from 2011 to 2014.
"The amended credit facility further strengthens an industry leading balance sheet and liquidity position while providing Alpha with greater financial flexibility to pursue our future growth opportunities," said Frank Wood, Alpha's executive vice president and chief financial officer.
Citicorp North America, Inc. acts as the administrative agent for the 31-bank syndicate group.