BROOKWOOD, Ala.--(BUSINESS WIRE)--
Warrior Met Coal, Inc. (NYSE:HCC) (“Warrior” or the “Company”) announced
today that it entered into an Amended and Restated Asset-Based Revolving
Credit Agreement, dated as of October 15, 2018 (the “Amended and
Restated Credit Agreement”). The Amended and Restated Credit Agreement,
among other things, (i) increases the aggregate commitments available to
be borrowed under the credit facility by $25.0 million to $125.0
million; (ii) extends the maturity date of the credit facility to
October 15, 2023; (iii) decreases the applicable interest rate margins
with respect to the loans and the applicable fees in connection with the
issuance of letters of credit; and (iv) amends certain covenants and
other term and provisions.
About Warrior
Warrior is a large scale, low-cost U.S. based producer and exporter of
premium hard coking coal (“HCC”), operating highly efficient longwall
operations in its underground mines located in Alabama. The HCC that
Warrior produces from the Blue Creek coal seam contains very low sulfur
and has strong coking properties and is of a similar quality to coal
referred to as the premium HCC produced in Australia. The premium nature
of Warrior’s HCC makes it ideally suited as a base feed coal for steel
makers and results in price realizations near the Platts Premium Low
Volatility Free-On-Board Australia Index price. Warrior sells all of its
met coal production to steel producers in Europe, South America and
Asia. For more information about Warrior, please visit www.warriormetcoal.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181016005619/en/
Warrior Met Coal, Inc.
For Investors:
Dale W. Boyles,
205-554-6129
[email protected]
or
For
Media:
William Stanhouse, 205-554-6131
[email protected]
Source: Warrior Met Coal, Inc.