November 19, 2021 - Warrior Met Coal, Inc. (NYSE: HCC) today announced that it proposes to offer, subject to market conditions and other factors, $350 million in aggregate principal amount of senior secured notes due 2028 (the “Notes”) in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). Warrior expects to use the net proceeds of the offering of the Notes, together with cash on hand, to fund the redemption of all of its outstanding 8.00% senior secured notes due 2024 (the “Existing Notes”), including payment of the redemption premium in connection with such redemption.
The Notes will be initially guaranteed, jointly and severally, by each of Warrior’s direct and indirect wholly-owned domestic restricted subsidiaries that are borrowers or guarantors under Warrior’s Asset-Based Revolving Credit Agreement Facility as in effect on the issuance date of the Notes (the “ABL Facility”).
The Notes will be offered and sold to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and to certain non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act.
The Notes have not been and will not be registered under the Securities Act or applicable state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.
This press release does not constitute a notice of redemption under the indenture governing the Existing Notes and is neither an offer to sell nor a solicitation of an offer to buy any of the Notes or any other securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer, solicitation or sale is unlawful.