In a Form 8-K filed April 18 with the U.S. Securities and Exchange Commission (SEC), Foresight has obtained the support of owners of $650 million in the company’s secured loans and revolving credit accounts.

The group, along with other items, will also waive the miner’s loan defaults; in return, they will reduce Foresight’s credit limit and add 1% interest to their existing loans.

Two-thirds of the owners of Foresight’s unsecured bonds, which total $600 million, must approve the deal. For the restructuring to move ahead, that approval must be received by May 6. Foresight Reserves, in an attempt to help realize a positive outcome, has offered to buy $106 million in principal for the outstanding bonds.

Should that occur, Foresight will be able to swap out those bonds and obtain new bonds for $300 million due in 2021 and another $300 million via one-year convertible notes.

Foresight Reserves is operated by the Cline Group, which also founded Foresight Energy. Murray Energy (MEC) purchased a controlling interest in Foresight Energy in March 2015 in a $1.395 billion deal. Talks had been going on since late last year, when a court ruled MEC’s takeover of its 50% stake represented a shift in control.

Details of the tentative agreement can be found here.