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....

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