Capabilities

Arch Coal, Inc.

Ad Hoc Group of Term Lenders

Our attorneys represented the ad hoc group of term lenders in the restructuring of a $1.9 billion credit facility extended to Arch Coal, Inc. Our attorneys devised a strategy to oppose an exchange offer proposed by Arch Coal with its senior noteholders that would have resulted in significant dilution of the term lenders’ position. The company and the term lenders subsequently entered into a plan support agreement and the company commenced a Chapter 11 proceeding. Arch successfully emerged from Chapter 11 as the term lenders received over 90% of the post-reorganization equity and achieved a more than par recovery following emergence.

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