FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Bayside Finance, Xinergy Close $20MM Senior Secured Financing

December 24, 2012, 07:49 AM

Xinergy Ltd., a Central Appalachian coal producer, entered into a credit agreement with Bayside Finance, providing for a $20 million senior secured term loan, as contemplated by the financing commitment entered into on October 27, 2012 with Bayside Capital Inc. The company has drawn Term Loan A under the credit agreement in the principal amount of $10 million, and may draw down Term Loan B in the principal amount of $10 million on or before the first anniversary of the date of the credit agreement, subject to the closing conditions set forth in the agreement.

Headquartered in Knoxville, TN, Xinergy Ltd., through its wholly owned subsidiary Xinergy Corp. and its subsidiaries, is engaged in coal mining in eastern Kentucky, West Virginia and Virginia. Xinergy sells high quality thermal and metallurgical coal to electric utilities, steelmakers, energy trading firms and industrial companies.


Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.