According to documents filed with the SEC, Arch Coal entered into an amendment to its D.I.P. credit agreement, which (i) extended the availability period to borrow under the D.I.P. facility and (ii) extended the deadline for the Company’s Plan to become effective, in each case, to coincide with Arch Coal’s upcoming planned emergence from Chapter 11 protection – with a corresponding extension to the period during which the 5% per annum unused commitment fee is applicable.
As previously disclosed, certain of the Debtors entered into a pre-petition restructuring support agreement (RSA). On July 5, 2016, the Debtors entered into an amended and restated RSA with lenders holding more than 66 2/3% of the aggregate principal amount of loans outstanding under Arch Coal’s pre-petition first lien credit facility, the committee of unsecured creditors and certain members of the committee.
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