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MidCap Financial Provides an $85MM Senior Secured Credit Facility to Westmoreland Mining

June 20, 2019, 08:45 AM
Filed Under: Mining
Related: MidCap Financial

MidCap Financial announced it has provided an $85 million senior credit facility to Westmoreland Mining Holdings, LLC, the oldest independent coal company in the United States. The MidCap credit facility will provide for the company's working capital needs.

Westmoreland’s coal operations include surface coal mines in the United States and Canada, underground coal mine in New Mexico, a char production facility, and a 50% interest in an activated carbon plant. Westmoreland’s assets include an extensive portfolio of coal mining operations, including operating mines in Canada and the U.S. supplying regional power producers, and one export mine in Canada.

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