Arch Coal Files Amended Plan of Reorganization and Disclosure Statement

ST. LOUIS, June 15, 2016 /PRNewswire/ -- Arch Coal Inc. ("Arch" or the "company") today announced that it has filed an amended Plan of Reorganization (the "Plan") and a related Disclosure Statement with the United States Bankruptcy Court for the Eastern District of Missouri. The Plan is supported by certain of the company's senior secured lenders that hold more than 66 2/3% of its first lien term loan. 

"The filing of this amended Plan moves Arch another significant step closer to a successful completion of our financial restructuring," said John W. Eaves, Arch's chairman and CEO. "We are pleased to submit a plan that will strengthen our balance sheet and enable us to continue our operations and reclamation activities, as we further advance our efforts to position Arch for long-term success. With low-cost production in strategic market segments and the most advantaged coal supply regions, Arch is well-equipped to emerge as a strong competitor. We are confident that, upon emergence, Arch will be poised to prosper in the quickly evolving coal marketplace."

"We appreciate the support of Arch's lenders and other stakeholders, and we are especially grateful for the continued focus and commitment of Arch's dedicated employees during this process," Eaves continued. "Thanks to our employees' efforts, we are continuing to provide exceptional service to our customers, while maintaining our position as an industry leader in safety and environmental stewardship."

A hearing to consider approval of the Disclosure Statement is scheduled for June 22, 2016. Following approval of the Disclosure Statement, the company intends to seek confirmation of the Plan consistent with the milestones outlined in the restructuring support agreement.

Arch's Plan and Disclosure Statement, as well as other documents related to the reorganization proceedings, are available on a website administered by Arch's claims and noticing agent, Prime Clerk, at https://cases.primeclerk.com/archcoal. The Disclosure Statement is subject to approval by the Court, and the Plan is subject to confirmation by the Court. This press release is not intended as a solicitation for a vote on the Plan. Certain legal matters addressing intercreditor and distributional issues among the company's secured and unsecured creditors will need to be resolved by the Court unless previously settled. The company will continue its diligent efforts towards a consensual resolution of these issues.

Additional information about Arch's restructuring is available on Arch's website at www.archcoal.com/restructuring or by calling Arch's Restructuring Hotline, toll-free in the U.S., at
1-844-242-7478. (For calls originating outside the U.S., please dial 1-929-477-8086).

Davis Polk & Wardwell LLP is serving as legal advisor to Arch Coal, and PJT Partners is serving as financial advisor.

U.S.-based Arch Coal Inc. is a top coal producer for the global steel and power generation industries, reliably serving customers worldwide. Its network of large-scale, low-cost mining complexes is the most diversified in the United States, spanning every major coal supply basin. For more information, visit www.archcoal.com.

Forward-Looking Statements

This press release contains "forward-looking statements" – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, particular uncertainties arise from changes in the demand for our coal by the domestic electric generation industry; from legislation and regulations relating to the Clean Air Act and other environmental initiatives; from operational, geological, permit, labor and weather-related factors; from fluctuations in the amount of cash we generate from operations; from potential demands for additional collateral for self-bonding; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. For a description of some of the risks and uncertainties that may affect our future results, you should see the risk factors described from time to time in the reports we file with the Securities and Exchange Commission.

Logo - http://photos.prnewswire.com/prnh/20120727/CG47668LOGO

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/arch-coal-files-amended-plan-of-reorganization-and-disclosure-statement-300284932.html

SOURCE Arch Coal Inc.