Bankrupt Patriot Coal seeks credit amendments

Aug 12, 2013 | 02:21 PM | Stacy Irish

Tags  Patriot Coal, bankruptcy, Chapter 11, amendment, Citicorp North America, Barclays Bank, Bank of America, Bennett Hatfield Stacy Irish

NEW YORK — Patriot Coal Corp. is calling on its lenders to relax its $802 million credit agreement so it can avoid a default as it attempts to exit Chapter 11 bankruptcy.

On Aug. 7, Patriot asked the U.S. Bankruptcy Court in Missouri for an amendment to its agreement with debtor-in-possession lenders Citicorp North America Inc., Barclays Bank Plc and Bank of America Corp. to relax financial covenants to ensure its lenders do not....





Latest Pricing Trends

Poll

Is severe weather affecting your business?

Yes
No


View previous results