ADVFN - Advanced Financial Network.
HOME» NYSE » B » BX Stock Price » BX Stock News

Blackstone Grp Lp Ut Share News

 Blackstone Grp Lp Ut Stock Price
BX Stock Price
 Blackstone Grp Lp Ut Stock Chart
BX Stock Chart
 Blackstone Grp Lp Ut Stock News
BX Stock News
 Blackstone Grp Lp Ut Company Information
BX Company Information
 Blackstone Grp Lp Ut Stock Trades
BX Stock Trades

Patriot Coal Says Refinancing Efforts Continuing

DOW JONES NEWSWIRES Patriot Coal Corp. (PCX) said its refinancing plans are continuing and confirmed it is working with private-equity firm Blackstone Group LP (BX) on the effort. The short statement came after a sharp and sudden selloff of Patriot's shares following a Debtwire report on the company's alleged plans to restructure. Late Monday, Debtwire, citing unnamed sources, reported Patriot was fielding pitches from restructuring advisers in the event the company can't satisfy its near-term financing needs. Debtwire said Blackstone and Centerview Partners LLC were involved and law firm Davis Polk & Wardwell LLP was organizing the talks on Patriot's behalf. Patriot said earlier this month it entered into a commitment letter for a new revolving credit facility and new term loan facility for $625 million from three lenders: Citigroup Inc. (C), Barclays PLC (BCS, BARC.LN) and Natixis (NTXFY, KN.FR). "Patriot Coal Corp. is continuing to work with these lenders to strengthen its finances, including the replacement of its current credit facilities well before certain of its debt obligations become due in March 2013," the company said. It confirmed it is working with Davis Polk, its long-time counsel, and Blackstone "to achieve an optimal financing package," it said. Following the Debtwire report, shares shed more than 50% of their value, but have now bounced back somewhat, triggering two single-stock circuit breakers as the stock recouped some losses in the wake of Patriot's statement. Shares were down 29% at $2.38 in Tuesday afternoon trading. The stock is down 72% so far this year. The company last week lowered its sales volume outlook for metallurgical coal for the rest of the year, citing the potential default of a key customer. Two ratings firms soon after downgraded the company's credit ratings. -By Ben Fox Rubin, Dow Jones Newswires; 212-416-3108;

Stock News for Blackstone Grp Lp Ut (BX)
06/23/201618:18:50Statement of Changes in Beneficial Ownership (4)
06/22/201618:00:00SunEdison CEO Chatila Resigns
06/21/201613:35:00Optiv Security Appoints Former Experian Technology Executive...
06/17/201611:11:00Blackstone Acquires Blanchardstown Centre
06/16/201613:50:00Airbnb Raises $1 Billion in Debt
06/16/201612:05:00Optiv Security Ranked Top 25 Solution Provider by CRN
06/15/201617:00:00Blackstone Mortgage Trust Declares $0.62 Per Share Dividend
06/13/201612:05:00Optiv Security’s JD Sherry to Present on Cloud Security at G...
06/08/201618:00:00AmSurg, Envision Healthcare Hold Merger Talks
06/06/201611:05:00Optiv Security Ramps Up for Cloud Identity Summit
06/06/201609:00:00Apollo Still in Talks to Buy Concordia
06/03/201619:49:05Statement of Changes in Beneficial Ownership (4)
06/03/201618:59:00Warren Resources Lawyers Lay Out Plans to Exit Bankruptcy Proceedings
06/03/201616:03:00Blackstone to Present at the Morgan Stanley Financials Conference
06/03/201601:30:00Oil Company Warren Resources Files for Chapter 11 Bankruptcy...
06/02/201616:00:00Blackstone, Carlyle Depart Concordia Healthcare's Sale Process
06/02/201615:34:00CST Gets Interest From Alimentation Couche-Tard, Seven & I, PE...
06/02/201614:05:00Optiv Security Further Strengthens New England Presence with...
05/31/201612:29:00Global Entrepreneurship Program Announces Multi-Year Grants and...
05/18/201616:16:00Blackstone Mortgage Trust to Present at the KBW 2016 Mortgage...

Blackstone Grp Lp Ut and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2015 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations