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This excerpt taken from the ACI 10-K filed Mar 1, 2010. 6.75% senior
notes
The 6.75% senior notes were issued by the Company’s
subsidiary, Arch Western Finance LLC (“Arch Western
Finance”), under an indenture dated June 25, 2003. The
senior notes are guaranteed by Arch Western and certain of its
subsidiaries and are secured by an intercompany note from Arch
Western to Arch Coal, Inc. The terms of the senior notes contain
restrictive covenants that limit Arch Western’s ability to,
among other things, incur additional debt, sell or transfer
assets, and make certain investments. Arch Western Finance
issued $250.0 million of the Senior Notes at a premium of
104.75% of par. The premium is being amortized over the life of
the notes. The redemption price of the notes, reflected as a
percentage of the principal amount, is: 102.250% for notes
redeemed prior to July 1, 2010; 101.125% for notes redeemed
between July 1, 2010 and June 30, 2011 and 100% for
notes redeemed on or after July 1, 2011.
Table of Contents
NOTES TO
CONSOLIDATED FINANCIAL
STATEMENTS — (Continued)
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