According to a Reuters report on March 23, the forbearance period has been extended through March 29 unless its consenting lenders indicate differently. The initial agreement was entered into on December 18 and included holders of 7.875% notes due 2021.
Late last week, the St. Louis-based producer, on behalf of Foresight Energy LLC and Foresight Energy Finance Corp., confirmed it had not paid about $23.6 million in accrued and unpaid interest that was due on February 16 on the 7.875% notes, or during the 30-day grace period. The first forbearance deadline was March 22.
Murray Energy, which acquired a controlling interest in Foresight Energy last March in a $1.395 billion deal, has scheduled an investor conference call for its FY15 financial and operating results. That conference call is limited only to holders of certain senior secured term loans, senior secured notes and revolving credit facilities.