Rising coal prices and a more favourable outlook for the industry under President Donald Trump’s administration are allowing US coal companies to sign new leveraged loans after being shut out of the market since mid-2015, despite a declining long-term outlook for the industry.
Massive investor demand for floating rate assets helped St Louis, Missouri-based coal mining and processing company Arch Coal to increase the size of a refinancing loan to $300-million from $250-million on February 23, less than six months after emerging from bankruptcy.
