Cloud Peak Energy Announces Its Election to Terminate Its Undrawn Credit Agreement
CLOUD PEAK ENERGY (CLD)
Last cloud peak energy earnings: 3/15 06:04 am
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US:NYSE Investor Relations:
investor.cloudpeakenergy.com
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Source: Business Wire
GILLETTE, Wyo.--(BUSINESS WIRE)-- Cloud Peak Energy Inc. (NYSE:CLD), one of the largest U.S. coal producers and the only pure-play Powder River Basin (“PRB”) coal company, today announced that Cloud Peak Energy Resources LLC (“CPE Resources”), a wholly owned subsidiary of Cloud Peak Energy Inc., provided PNC Bank, National Association with notice to terminate the Credit Agreement with PNC Bank, National Association, as administrative agent, and a syndicate of lenders, originally dated as of February 21, 2014 (as amended, the “Credit Agreement”). The termination of the Credit Agreement is effective as of November 15, 2018. As disclosed in the Company’s Quarterly Report on Form 10-Q for the period ending September 30, 2018, the Company has been evaluating potential alternatives with respect to its Credit Agreement to achieve the Company’s business objectives and priorities, including exercising the Company
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