September 25, 2017 - Arch Coal, Inc. announced today that it has successfully completed an amendment to its credit agreement to reduce the interest rate on its senior secured term loan facility.

"We are pleased to have completed this amendment, which further improves our capital structure and marks the company's second successful refinancing this year," said John T. Drexler, Arch's chief financial officer. "We appreciate the ongoing support of our lenders, as well as the strong vote of confidence in Arch and its outlook for future success."

The new interest rate for the $300 million term loan facility is LIBOR plus 325 basis points - reflecting a 75 basis point reduction from its previous level. The LIBOR floor remains at 1 percent. There is no change to the maturities as a result of this repricing amendment. The reduction in the interest rate is expected to generate annual cash interest savings of more than $2 million.

Credit Suisse acted as sole lead arranger on the transaction.

U.S.-based Arch Coal, Inc. is a top coal producer for the global steel and power generation industries. Arch operates a streamlined portfolio of large-scale, low-cost mining complexes that produce high-quality metallurgical coals in Appalachia and low-emitting thermal coals in the Powder River Basin and other strategic supply regions.