Westmoreland Coal Company (NasdaqGM: WLB) announced today certain clarifications with respect to its previously announced solicitation of consents from holders of its outstanding 10.75% Senior Secured Notes due 2018 (the “Notes”) to approve proposed amendments to the indenture relating to the Notes (the “Indenture”) and to the related security and [...]
Westmoreland Coal Company (NasdaqGM:WLB) announced today that it has priced a private offering of $425 million principal amount of Add-On 10.75% Senior Secured Notes due 2018 at a price of 106.875% plus accrued interest from February 1, 2014. The company increased the size of the offering from the previously announced $400 million. The proceeds [...]
Westmoreland Coal Company (NasdaqGM: WLB) announced today that it is soliciting consents from holders of its outstanding 10.75% Senior Secured Notes due 2018 (the “Notes”) to approve proposed amendments to the indenture relating to the Notes (the “Indenture”) and to the related security and intercreditor agreements. Westmoreland is conducting [...]
Westmoreland Coal Company (NasdaqGM:WLB) announced today that it proposes to offer approximately $400 million principal amount of Add-On 10.75% Senior Secured Notes due 2018. The proceeds from the notes offering would be used primarily to pay the purchase price and related expenses for Westmoreland’s previously announced acquisition of coal mining [...]
Westmoreland Coal Company (NasdaqGM:WLB) today announced that it has entered into an agreement with Dominion Virginia Power, a subsidiary of Dominion (NYSE:D), to restructure the remaining five years of the ROVA I and ROVA II contract to allow the energy component of the contract to be supplied from outside sources. The restructured contract [...]
Westmoreland Coal Company (NasdaqGM:WLB) today announced that its Board of Directors has declared a dividend of $.53125 per depositary share payable on January 1, 2014 to holders of record as of December 20, 2013. Each depositary share represents one-quarter of a share of the Company’s Series A Convertible Exchangeable Preferred Stock. About [...]
Westmoreland Coal Company (NasdaqGM:WLB), through its Westmoreland Resources, Inc. subsidiary, has entered into a long-term coal supply agreement with TransAlta Centralia Generation LLC to supply coal from the Absaloka Mine. The agreement provides for up to 2.0 million tons per year to 2024, and up to 1.2 million tons in 2025. The term of the [...]
Westmoreland Coal Company (NasdaqGM:WLB) today reported its third quarter results for 2013. Highlights: Q3 2013 revenues grew 9.6% to $176.8 million compared with $161.3 million in Q3 2012 Adjusted EBITDA for the twelve months ended September 30, 2013 increased 30.3% to $115.8 million compared with $88.8 million for the twelve months ended [...]
Westmoreland Coal Company (NasdaqGM:WLB) today announced that it will host its third quarter 2013 earnings conference call to discuss the quarter’s financial and business results on Friday, October 25, 2013 at 10:00 a.m. ET. Robert P. King, Chief Executive Officer, will conduct the call. When: October 25, 2013 at 10:00 a.m. Eastern [...]
Westmoreland Coal Company (NasdaqGM:WLB) today announced that its Board of Directors has declared a dividend of $.53125 per depositary share payable on October 1, 2013 to holders of record as of September 20, 2013. Each depositary share represents one-quarter of a share of the Company’s Series A Convertible Exchangeable Preferred Stock. About [...]
Westmoreland Coal Company (NasdaqGM:WLB) today reported its second quarter results for 2013. Highlights: Q2 2013 revenues grew 22.4% to $162.5 million compared with $132.8 million in Q2 2012 Q2 2013 Adjusted EBITDA increased 119.2% to $32.0 million compared with $14.6 million in Q2 2012 Adjusted EBITDA for the twelve months ended June [...]
Westmoreland Coal today announced that it delivered its first shipment of coal via a new rail wye built at Westmoreland Resources, Inc.’s Absaloka Mine located in Hardin, Montana. The new connection to the main rail line allows trains to ship coal to the West, providing increased market opportunities for Absaloka’s coal, which is coal leased from [...]
