Massey announces pricing for senior notes

RICHMOND, Va. - Coal mine operator Massey Energy Co. on Tuesday announced a yield of 2.333 percent for a previously announced cash tender offer for senior notes due 2010. Based on the initial payment date of Tuesday, total consideration for each $1,000 of principal validly tendered is $1,026.57, Massey said. That amount includes the consent payment of $25 per $1,000 of the 6.625 percent notes. Massey said holders of $311.5 million, or 93 percent, of the notes' aggregate principal amount had tendered the notes and delivered the related consents by Monday, pursuant to the tender offer and consent solicitation. The tender offer and consent solicitation will expire Sept. 2, unless extended, Massey said. In addition, as a result of the early tenders and consents, Massey said it has received sufficient consent to execute a... [read full story]