Attached files
file | filename |
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8-K - 8-K - Walter Energy, Inc. | a13-21398_18k.htm |
EX-10.2 - EX-10.2 - Walter Energy, Inc. | a13-21398_1ex10d2.htm |
EX-99.1 - EX-99.1 - Walter Energy, Inc. | a13-21398_1ex99d1.htm |
EX-10.1 - EX-10.1 - Walter Energy, Inc. | a13-21398_1ex10d1.htm |
EX-10.3 - EX-10.3 - Walter Energy, Inc. | a13-21398_1ex10d3.htm |
EX-4.1 - EX-4.1 - Walter Energy, Inc. | a13-21398_1ex4d1.htm |
Exhibit 99.2
SOURCE: Walter Energy
September 27, 2013
Walter Energy Announces Closing of Dutch Auction to Repurchase $250 million of its Term Loan A
BIRMINGHAM, Ala. September 27, 2013 Walter Energy Inc. (Walter Energy) (NYSE: WLT) (TSX: WLT) today announced that it has successfully completed a Dutch Auction to repurchase and extinguish $250 million principal amount of its Term Loan A at an average price of $98.3 per $100 of principal amount plus accrued interest.
About Walter Energy
Walter Energy is a leading, publicly traded pure-play metallurgical coal producer for the global steel industry with strategic access to high-growth steel markets in Asia, South America and Europe. The company also produces thermal coal, anthracite, metallurgical coke and coal bed methane gas. Walter Energy employs approximately 4,100 employees with operations in the United States, Canada and United Kingdom.
Safe Harbor Statement
Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and may involve a number of risks and uncertainties. Forward-looking statements are based on information available to management at the time, and they involve judgments and estimates. Forward-looking statements include expressions such as believe, anticipate, expect, estimate, intend, may, plan, predict, will, and similar terms and expressions. These forward-looking statements are made based on expectations and beliefs concerning future events affecting Walter Energy and are subject to various risks, uncertainties and factors relating to Walter Energys operations and business environment, all of which are difficult to predict and many of which are beyond Walter Energys control, that could cause Walter Energys actual results to differ materially from those matters expressed in or implied by these forward-looking statements. The following factors are among those that may cause actual results to differ materially from Walter Energys forward-looking statements: unfavorable economic, financial and business conditions; the global economic crisis; market conditions beyond Walter Energys control; prolonged decline in the price of coal; decline in global coal or steel demand; prolonged or dramatic shortages or difficulties in coal production; Walter Energy customers refusal to honor or renew contracts; Walter Energys ability to collect payments from its customers; weather patterns and conditions affecting production, geological, equipment and other operational risks associated with mining; availability of adequate skilled employees and other labor relations matters; title defects preventing Walter Energy from (or resulting in additional costs for) mining its mineral interests; availability of licenses, permits, and other authorizations may be subject to challenge; concentration of Walter Energys mineral operations in a limited number of areas subjects Walter Energy to risks; a significant reduction of, or loss of purchases by, Walter Energys largest customers; unavailability of cost-effective transportation for Walter Energys coal; availability, performance and costs of railroad, barge, truck and other transportation; disruptions or delays at the port facilities used by Walter Energy; risks associated with Walter Energys reclamation and mine closure obligations, including failure to obtain or renew surety bonds; inaccuracies in our estimates of coal reserves; estimates concerning economically recoverable coal reserves; significant cost increases and delays in the delivery of raw materials, mining equipment
and purchased components; failure to meet project development and expansion targets; risks associated with operating in foreign jurisdictions; significant increase in competitive pressures and foreign currency fluctuations; new laws and regulations to reduce greenhouse gas emissions that impact the demand for Walter Energys coal reserves; greater than anticipated costs incurred for compliance with environmental liabilities or limitations on Walter Energys ability to produce or sell coal; future regulations that may increase Walter Energys costs or limit its ability to produce coal; risks related to Walter Energys indebtedness and its ability to generate cash for its financial obligations; inability to access needed capital; events beyond Walter Energys control may result in an event of default under one or more of its debt instruments; costs related to Walter Energys post-retirement benefit obligations and workers compensation obligations; downgrade in Walter Energys credit rating; adverse rulings in current or future litigations; Walter Energys ability to attract and retain key personnel; Walter Energys ability to identify suitable acquisition candidates to promote growth; Walter Energys ability to successfully integrate acquisitions; Walter Energys exposure to indemnification obligations; and other risks and uncertainties including those described in Walter Energys filings with the SEC. Forward-looking statements made by Walter Energy in this release, or elsewhere, speak only as of the date on which the statements were made. You are advised to read the risk factors in Walter Energys most recently filed Annual Report on Form 10-K and subsequent filings with the SEC, which are available on the SECs website at www.sec.gov. New risks and uncertainties arise from time to time, and it is impossible for Walter Energy to predict these events or how they may affect it or its anticipated results. Walter Energy has no duty to, and does not intend to, update or revise the forward-looking statements in this release, except as may be required by law. In light of these risks and uncertainties, readers should keep in mind that any forward-looking statement made in this press release may not occur. All data presented herein is as of the date of this release unless otherwise noted.
Contact Information
For media:
Ruth Pachman
212-521-4891
ruth-pachman@kekst.com
or
For investors:
Mark Tubb
205-745-2627
mark.tubb@walterenergy.com