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Walter Energy, Inc. Common Stoc Message Board

  • blackboxfund blackboxfund Jun 21, 2013 10:24 AM Flag

    this week's timeline of news Morgan Stanley should know this company better than any other I Banker

    Walter Energy, Inc. (the "Company") has begun exploring options to refinance a portion of its existing debt in order to increase its financial flexibility. The Company intends to use the net proceeds from these financing transactions, which may include borrowings under a new secured term loan facility, a new revolving credit facility and other unsecured debt financing, to repay its outstanding indebtedness and to pay fees and expenses related to these transactions. The terms of the proposed new debt facilities would replace the existing term loan A facility and term loan B facility with a new term loan B facility and new senior unsecured debt as well as extend the maturity of its indebtedness. There is no assurance that such financing transactions will be consummated.


    On June 14, 2013, Walter Energy, Inc. (the "Company") announced that it will not proceed at this time with a refinancing of a portion of its existing debt.

    and the effort was given up a week later over a few basis points, that does not sound right they would be continuing to look for money ....

    Walter Energy (WLT_) shares were soaring Tuesday by more than 15% to $13.47 on more than double its average three month trading volume as bullish sentiment continued to pour in following a Morgan Stanley report reassuring investors that this metallurgical coal producer has more than ample upside potential following its dramatic plunge Friday.

    Analysts Evan Kurtz, Alexander Levy and Marcus Lindberg published a note Monday saying that they think the stock will be able to rise another 200%, following its steep declines Friday that saw shares plunge 17% to a four-year low of $11.76, as metallurgical coal prices stabilize following their deterioration and the company demonstrates that it's able to work out debt covenant relief with its banks while maintaining sufficient liquidity.

    6/21 Merrill drops it's price $9 ???????

    Sentiment: Strong Buy

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    • Make no mistake there is a better than even (and I'm probably being overly generous) probability that they are going to fail to hit the debt covenant requirement. This could lead to a bankruptcy filing but it probably won't as the lenders likely don't want a bankruptcy filing...yet.

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