Last $32.40 USD
Change Today -0.04 / -0.12%
Volume 106.3K
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As of 5:10 PM 12/24/14 All times are local (Market data is delayed by at least 15 minutes).

westmoreland coal co (WLB) Snapshot

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08/11/14 - $45.19
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12/26/13 - $17.32
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westmoreland coal co (WLB) Details

Westmoreland Coal Company operates as an energy company in the United States. The company is engaged in the production and sale of sub-bituminous coal and lignite to plants that generate electricity. It owns six surface coal mines in Montana, Wyoming, North Dakota, and Texas. As of December 31, 2013, the company had total proven or probable coal reserves of approximately 514.5 million tons. It is also involved in the production of electricity. The company operates 2 coal-fired power generating units with a total capacity of approximately 230 megawatts in Weldon, North Carolina. Westmoreland Coal Company was founded in 1854 and is headquartered in Englewood, Colorado.

1,370 Employees
Last Reported Date: 02/28/14
Founded in 1854

westmoreland coal co (WLB) Top Compensated Officers

Chief Executive Officer, Director and Member ...
Total Annual Compensation: $201.9K
Chief Financial Officer
Total Annual Compensation: $289.2K
Executive Vice President
Total Annual Compensation: $254.3K
Vice President of Development and Treasurer
Total Annual Compensation: $293.8K
General Counsel of Compliance & Corporate Gov...
Total Annual Compensation: $221.9K
Compensation as of Fiscal Year 2013.

westmoreland coal co (WLB) Key Developments

Westmoreland Coal Company Announces Closing of Refinancing Transactions and Final Results of Tender Offer and Consent Solicitation

Westmoreland Coal Company announced the closing of its previously announced private offering of $350 million in aggregate principal amount of 8.75% Senior Secured Notes due 2022 and its previously announced $350 million Senior Secured Term Loan due 2020. Westmoreland also announced the final results of its previously announced tender offer and consent solicitation commenced on November 17, 2014 for its 10.75% Senior Secured Notes due 2018 (CUSIP 960887AB3). An aggregate of $664,960,000, representing 98.44% of the principal amount of the 10.75% Notes outstanding, was validly tendered and not withdrawn as of the Expiration Date. Westmoreland funded the consideration paid to the tendering holders of the 10.75% Notes using proceeds from its offering of the New Notes and the Term Loan, and with available cash on hand. On December 16, 2014, in connection with a satisfaction and discharge of the indenture governing the 10.75% Notes, Westmoreland issued a notice of redemption notifying holders of any remaining 10.75% Notes that, on February 1, 2015, Westmoreland will redeem all of the 10.75% Notes that remained outstanding following the Tender Offer under the terms of the related indenture. Concurrently with the closing of the offering of the New Notes and the Term Loan, Westmoreland also entered into a second amended and restated revolving credit facility with The PrivateBank and Trust Company.

Westmoreland Coal Company Announces Pricing of $350 million Offering of 8.75% Senior Secured Notes Due 2022

Westmoreland Coal Company announced that on December 8, 2014 it priced a private offering of approximately $350 million principal amount of 8.75% senior secured notes due 2022 (the ‘Notes’). Westmoreland intends to use the proceeds from the Notes offering, together with proceeds from its previously announced senior secured term loan due 2020 and cash on hand, to fund the consideration payable in connection with its previously announced tender offer and consent solicitation for its outstanding 10.75% senior secured notes due 2018. The Notes offering is expected to close on December 16, 2014, subject to customary closing conditions.

Westmoreland Coal Company Declares Dividend on Preferred Stock, Payable on January 1, 2015

Westmoreland Coal Company announced that its Board of Directors has declared a dividend of $0.53125 per depositary share payable on January 1, 2015 to holders of record as of December 19, 2014.


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