Last $5.77 USD
Change Today +0.05 / 0.87%
Volume 3.8M
WLT On Other Exchanges
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As of 8:04 PM 07/22/14 All times are local (Market data is delayed by at least 15 minutes).

walter energy inc (WLT) Snapshot

Open
$5.76
Previous Close
$5.72
Day High
$5.99
Day Low
$5.72
52 Week High
11/5/13 - $19.50
52 Week Low
06/3/14 - $4.25
Market Cap
379.8M
Average Volume 10 Days
3.1M
EPS TTM
$-4.29
Shares Outstanding
65.8M
EX-Date
08/7/14
P/E TM
--
Dividend
$0.04
Dividend Yield
0.69%
Current Stock Chart for WALTER ENERGY INC (WLT)

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walter energy inc (WLT) Details

Walter Energy, Inc. produces and exports metallurgical coal for the steel industry. The company operates through U.S. Operations, and Canadian and U.K. Operations segments. It also extracts, processes, markets, and/or possesses mineral reserves of thermal coal and anthracite coal, as well as produces metallurgical coke and coal bed methane gas. As of December 31, 2013, the company had approximately 386.3 million metric tons of recoverable reserves worldwide. It sells its metallurgical coal in Europe, Asia, and South America; and thermal coal primarily to large utilities and industrial customers located principally in Alabama, West Virginia, and the United Kingdom. The company was formerly known as Walter Industries, Inc. and changed its name to Walter Energy, Inc. in April 2009. Walter Energy, Inc. was founded in 1946 and is headquartered in Birmingham, Alabama.

3,600 Employees
Last Reported Date: 02/26/14
Founded in 1946

walter energy inc (WLT) Top Compensated Officers

Chief Executive Officer, Director and Member ...
Total Annual Compensation: $816.6K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $447.0K
President of Canadian Operations
Total Annual Compensation: $343.8K
Executive Vice President, General Counsel and...
Total Annual Compensation: $412.1K
Chief Commercial Officer and Senior Vice Pres...
Total Annual Compensation: $396.2K
Compensation as of Fiscal Year 2013.

walter energy inc (WLT) Key Developments

Walter Energy, Inc. Declares Quarterly Dividend, Payable on September 5, 2014

Walter Energy, Inc. announced that its Board of Directors has declared a regular quarterly dividend of $0.01 per common share payable on Sept. 5, 2014, to shareholders of record as of the close of business on Aug. 11, 2014.

Walter Energy, Inc. Closes Offering of $320 Million of Senior Secured Notes

On July 14, 2014, Walter Energy, Inc. issued an additional $320.0 million aggregate principal amount of its 9.500% Senior Secured Notes due 2019 (the New First Lien Notes). The New First Lien Notes were issued under an Indenture dated as of September 27, 2013 (the First Lien Notes Indenture), among the Company, certain of its domestic restricted subsidiaries (the Guarantors) and Wilmington Trust, National Association (as successor to Union Bank, N.A.), as trustee and collateral agent (the First Lien Notes Collateral Agent), governing the $450.0 million aggregate principal amount of 9.500% Senior Secured Notes due 2019 that were issued on September 27, 2013 and the $200.0 million aggregate principal amount of 9.500% Senior Secured Notes due 2019 that were issued on March 27, 2014 (collectively, the Existing First Lien Notes and, together with the New First Lien Notes, the First Lien Notes'). The First Lien Notes will mature on October 15, 2019, and interest is payable on April 15 and October 15 of each year. The next interest payment date for the First Lien Notes is October 15, 2014. The First Lien Notes are unconditionally guaranteed, jointly and severally, by the Guarantors. The First Lien Notes and the guarantees are secured on a first priority basis, equally and ratably with the Company's Credit Agreement and any future pari passu secured obligations (subject to permitted liens) on substantially all of the Company's and the Guarantors' property and assets, which also secure the Company's 11.0% and 12.0% Senior Secured Second Lien PIK Toggle Notes due 2020 (the Second Lien Notes) on a second priority basis. At any time prior to October 15, 2016, the Company may redeem up to 35% of the aggregate principal amount of the First Lien Notes, with the net cash proceeds from certain equity offerings at a price equal to 109.500% of the principal amount of the First Lien Notes redeemed plus accrued and unpaid interest, if any, to the date of redemption. The Company may redeem all or part of the First Lien Notes prior to October 15, 2016, at a redemption price (expressed as a percentage of principal amount) equal to 100% of the principal amount of the First Lien Notes redeemed plus a make-whole premium, together with accrued and unpaid interest, if any, to the date of redemption. The Company may redeem all or part of the First Lien Notes at redemption prices (expressed as percentages of principal amount) equal to 107.125% for the twelve-month period beginning on October 15, 2016, 102.375% for the twelve-month period beginning on October 15, 2017 and 100.000% beginning on October 15, 2018, in each case plus accrued and unpaid interest to the date of redemption. If the Company experiences specific kinds of changes in control, holders of the First Lien Notes have the right to require the Company to repurchase their First Lien Notes at a repurchase price equal to 101% of the aggregate principal amount, plus accrued and unpaid interest, if any, to the date of repurchase. The First Lien Notes Indenture limits the ability of the Company and its Restricted Subsidiaries (as defined in the First Lien Notes Indenture) to, among other things, incur additional debt; pay dividends and make distributions or repurchase stock; make certain investments; create or incur liens; sell assets; enter into restrictions affecting the ability of its Restricted Subsidiaries to make distributions, loans or advances to the Company; enter into certain transactions with affiliates; and to merge or consolidate or transfer or sell all or substantially all of its assets. The First Lien Notes Indenture provides that events of default include: failure to make the payment of any interest on the First Lien Notes when the same becomes due and payable, with such failure continuing for a period of 30 days; failure to make the payment of any principal of, or premium, if any, on, any of the First Lien Notes when the same becomes due and payable at maturity, upon redemption, or otherwise; failure to comply with certain covenants or agreements in the First Lien Notes Indenture or the Notes Collateral Documents (as defined in the First Lien Notes Indenture) (subject to applicable time periods provided for compliance or cure); a default by the Company or any of its Significant Subsidiaries (as such term is defined in the First Lien Notes Indenture) or group of Restricted Subsidiaries that taken as a whole would constitute a Significant Subsidiary under their.

Walter Energy Amends $2.73 Billion Credit Agreement

Walter Energy has made certain amendments to its $2.73 billion credit agreement changing the financial maintenance ratio and increasing the size of total available commitments under its credit facility, among other revisions. Walter Energy Inc. has made certain amendments to its $2.73 billion credit agreement, changing the financial maintenance ratio and increasing the size of total available commitments under its credit facility, among other revisions. Walter had made amendments in March to extend the maturity of 81.6% of its revolving commitments under the credit agreement. The company has been trying to sail through difficult coal market conditions, triggered by lower metallurgical coal prices. An eight amendment made to the credit agreement provides Walter with an additional tranche of revolving loan commitments totaling $61.2 million, which increases total available commitments under the revolving credit facility to $375 million. The new tranche will mature in 2017.

 

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