Arch Coal Inc (ACIIQ) - OTCPK - Current
  • Sep. 24, 2015, 12:40 PM
    | Sep. 24, 2015, 12:40 PM
  • Sep. 24, 2015, 9:13 AM
    • Arch Coal (NYSE:ACI+21.3% premarket after announcing an extension of the deadline for its debt exchange plan to Oct. 26.
    • ACI's debt restructuring plan includes swapping existing debt for longer-term securities to reduce total debt and annual interest expenses by ~20%.
    • This is the third time the debt swap deadline has been extended.
    • Earlier: Arch Coal teeters on the brink as debt swap deadline approaches (Sep 22)
    | Sep. 24, 2015, 9:13 AM | 7 Comments
  • Sep. 23, 2015, 12:40 PM
    | Sep. 23, 2015, 12:40 PM | 1 Comment
  • Sep. 22, 2015, 6:51 PM
    • Arch Coal (NYSE:ACI) could be the next U.S. coal miner to file for Chapter 11 bankruptcy protection if it fails to seal a crucial debt swap this week, lawyers and analysts say.
    • But ACI could postpone tomorrow's deadline for at least a majority of investors to agree to the debt swap, while the company waits for a New York judge to decide whether to grant a injunction requested by junior bondholders; the debt swap deadline already has been extended twice.
    • "A successful debt swap for Arch could add to the liquidity runway, deleverage the balance sheet and motivate management to keep the company alive," says CRT Capital's Amer Tiwana, but "liquidity is still stretched."
    • ACI has $5.1B in debt, far outstripping a $74M stock market value, and its debt-to-EBITDA ratio reached an alarming 18x in 2014, though it has since come down slightly.
    | Sep. 22, 2015, 6:51 PM | 30 Comments
  • Sep. 18, 2015, 6:21 PM
    • Boosted by a recent victory in Colorado, environmental groups are expanding their legal campaign to try stop coal mining by challenging permits for some of the largest mines in the western U.S.
    • This time, WildEarth Guardians is asking a federal judge to block mining at Cloud Peak Energy's (NYSE:CLD) Antelope mine in Wyoming, Arch Coal's (NYSE:ACI) Black Thunder mines in Wyoming, Peabody Energy's (NYSE:BTU) El Segundo mine in New Mexico, and others.
    • Rather than just saying U.S. regulators should take the climate change impacts of individual mines into account before approving permits, the group is finding some success by claiming regulators should be considering the cumulative effect of mining as a whole and whether the U.S. should allow any more.
    • Another court win could lead regulators to change their approach and start taking climate change into account before approving future coal leases, some law professors say.
    | Sep. 18, 2015, 6:21 PM | 35 Comments
  • Sep. 17, 2015, 10:52 AM
    • An Arch Coal (ACI -0.7%) creditor has sued other lenders it says are looking to block the company's plan to swap existing bonds for new securities with longer maturities.
    • GSO Special Situations Master Fund, part of the Blackstone Group P-E firm and a holder of some of ACI's unsecured notes, is accusing the defendants of making "improper and legally unsupportable efforts" to block the debt swap.
    • Looming is a Sept. 23 deadline for ACI's effort to restructure part of its $5.1B debt.
    | Sep. 17, 2015, 10:52 AM | 15 Comments
  • Sep. 14, 2015, 2:39 PM
    • Arch Coal (ACI +21.1%) surges following the disclosure that Wyoming regulators reaffirmed self-bonding eligibility for two permits that were under renewal; the state's May denial of self-bonding for Alpha Natural Resources helped send coal company stocks plunging at the time.
    • ACI says its other permits in Wyoming continue to qualify for self-bonding; as of June 30, the company had self-bonded an aggregate of $457M in the state.
    • ACI shares also may be helped by a weekend Seeking Alpha article discussing a 2.7M-share purchase by Apollo's Leon Black, or 12.6% of the float, on top of an investment by George Soros.
    | Sep. 14, 2015, 2:39 PM | 2 Comments
  • Sep. 8, 2015, 12:41 PM
    | Sep. 8, 2015, 12:41 PM | 1 Comment
  • Sep. 8, 2015, 9:14 AM
    | Sep. 8, 2015, 9:14 AM | 3 Comments
  • Sep. 4, 2015, 3:56 PM
    • Today's plunge in Arch Coal (ACI -15.6%) perhaps is attributable to a new Bloomberg article that indicates distressed debt swaps may be a thing of the past.
    • ACI shares surged Monday after announcing that it had extended its debt exchange offer until Sept. 23, but apparently the company is having trouble completing the swap and cannot find enough shareholders who want to make the exchange.
    • Today's article says ACI's proposed deal with bondholders to swap some of their securities into higher-ranking and longer-dated debt is stuck in limbo after another group of lenders - concerned that the exchange would not save ACI and thinking they might be better off if the company filed for bankruptcy - moved to block it.
    • Some profit taking also may be at work, as the stock price has more than quadrupled in the past three weeks; also, J.P. Morgan came out with a negative outlook for coal prices (NYSEARCA:KOL), saying the U.S. thermal coal sector remains "subdued" because the oversupply of shale gas is putting severe pressure on U.S. natural gas prices.
    | Sep. 4, 2015, 3:56 PM | 15 Comments
  • Sep. 4, 2015, 12:45 PM
    | Sep. 4, 2015, 12:45 PM | 1 Comment
  • Sep. 4, 2015, 9:12 AM
    | Sep. 4, 2015, 9:12 AM
  • Sep. 2, 2015, 3:23 PM
    • Volatility in U.S. coal equities (NYSEARCA:KOL) has reached the highest level since March 2010, as miners that fell more than 90% jumped to a two-week rally that abruptly ended yesterday when they slid as part of the stock market's wider selloff.
    • Short sellers are a big factor: Last week's bounce suggests short sellers were fleeing their positions, which pushed up prices - Peabody Energy (BTU -3.6%), for example, had averaged ~15M trades/day for a month before Thursday, when it totaled nearly 60M.
    • The companies also are trying to restructure their debt: After reports said Arch Coal (ACI +6.8%) was looking to compromise with lenders opposed to its proposed debt swap, and thus stave off the threat of bankruptcy, shares soared 633% in nine trading days.
    • But Bloomberg says ACI is having trouble completing the swap, with senior lenders still opposed, and bond traders do not think the deal would be enough to fend off a bankruptcy.
    • Also: CLD +1.3%, WLB +3%, ARLP -2.2%.
    | Sep. 2, 2015, 3:23 PM | 16 Comments
  • Sep. 2, 2015, 9:17 AM
    | Sep. 2, 2015, 9:17 AM | 2 Comments
  • Sep. 1, 2015, 3:39 PM
    • Coal stocks (KOL -4.4%) are surrendering large chunks of their recent gains, as might be expected, but J.P. Morgan analysts think coal's share of the U.S. power market might have hit its low point, seeing grid inflexibility making a reduction in coal’s share below ~30% difficult without more investment in the grid, pipelines and more gas power plants.
    • The JPM team thinks it is reasonable to assume that once the U.S. gas market begins to balance and the gas price picks up, coal’s market share will recover to the mid or even high 30s prior to the introduction of the greenhouse gas rule, assuming the rule overcomes its many legal challenges.
    • Meanwhile, the firm cuts its 2016 EPS estimate on Alliance Resource Partners (ARLP -1.7%) to $0.83 from $0.89, and imitates a 2016 estimate on Peabody Energy (BTU -17.98%) for a loss of $0.37, Arch Coal (ACI -28.9%) for a loss of $6.78, and Cloud Peak Energy (CLD -22.1%) for a loss of $0.21.
    | Sep. 1, 2015, 3:39 PM | 24 Comments
  • Sep. 1, 2015, 12:46 PM
    | Sep. 1, 2015, 12:46 PM | 3 Comments
Company Description
Arch Coal Inc is a coal producer in the United States, which sells coal to power plants, steel mills and industrial facilities.
Industry: Industrial Metals & Minerals
Country: United States