ALLIANCE RESOURCE PARTNERS, L.P. (NASDAQ:ARLP) Files An 8-K Entry into a Material Definitive Agreement
ITEM 1.01Entry into a Material Definitive Agreement
The information set forth in Item 2.03 below is incorporated by
reference into this Item 1.01.
ITEM 2.03Creation of a Direct Financial Obligation
On April 3, 2017,Alliance Resource Partners, L.P.s (the
Partnership) wholly-owned subsidiary Alliance Resource Operating
Partners, L.P. (the Intermediate Partnership) entered into
Amendment No. 1 (the Amendment) to the Fourth Amended and
Restated Credit Agreement (the Credit Agreement) with certain
banks and other lenders, including JPMorgan Chase Bank, N.A. as
administrative agent (the “Administrative Agent”), for a
revolving credit facility and term loan (the “Credit
Facility”).The effectiveness of the Amendment is conditioned upon
the completion of the Intermediate Partnerships previously
announced bond offering and repayment of the Intermediate
Partnerships outstanding $145 million 6.72% Series B Senior Notes
Due June 26, 2018.The Amendment, among other things, modifies the
Credit Agreement as follows:
extends the maturity date for approximately $460.5
eliminates the Cavalier and Senior Notes Conditions (as
lowers the fixed charge ratio required for distribution
raises the consolidated debt to consolidated cash flow
eliminates the requirement that the Intermediate
allows the Intermediate Partnership to repay its $145
further limits the Intermediate Partnerships subsidiaries
permits the Intermediate Partnership in certain instances
A copy of Amendment No. 1 to the Fourth Amended and Restated
Credit Agreement is filed as Exhibit 10.1 to this Current Report
on Form 8-K.
ITEM 8.01Other Events
On April 7, 2017, the Partnership issued a press release to
announce that the Intermediate Partnership and Alliance
Resource Finance Corporation priced their private placement to
eligible purchasers of $400.0 million aggregate principal
amount of 7.5% senior notes due 2025 (the Notes).The Notes
priced at par and the settlement of the private placement is
expected to occur on April 24, 2017, subject to customary
closing conditions. A copy of the press release is attached
hereto as Exhibit 99.1 to this Current Report on Form 8-K and
incorporated herein by reference.
ITEM 9.01.Financial Statements and Exhibits.
Amendment No. 1 dated April 3, 2017 to the Fourth
Press release dated April 7, 2017.
About ALLIANCE RESOURCE PARTNERS, L.P. (NASDAQ:ARLP)
Alliance Resource Partners, L.P. is a producer and marketer of coal primarily to the United States utilities and industrial users. The Company operates through segments, including Illinois Basin, Appalachia, and Other and Corporate. It operates over 10 underground mining complexes in Illinois, Indiana, Kentucky, Maryland and West Virginia. The Illinois Basin segment consists of various operating segments, including Webster County Coal’s Dotiki mining complex, Gibson County Coal’s mining complex, which includes the Gibson North mine and Gibson South mine, Hopkins County Coal’s mining complex, which includes the Elk Creek mine and the Fies property, White County Coal’s Pattiki mining complex, Warrior’s mining complex, Sebree Mining’s mining complex, which includes the Onton mine and River View’s mining complex. The Appalachia segment consists of multiple operating segments, including the Mettiki mining complex, the Tunnel Ridge mining complex and the MC Mining mining complex. ALLIANCE RESOURCE PARTNERS, L.P. (NASDAQ:ARLP) Recent Trading Information
ALLIANCE RESOURCE PARTNERS, L.P. (NASDAQ:ARLP) closed its last trading session down -0.50 at 22.55 with 307,189 shares trading hands.