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; ben.rubin@dowjones.com

Stock News for Blackstone Grp Lp Ut (BX)
DateTimeHeadline
07/05/201523:40:17Blackstone Group Hires New China Chairman
07/03/201520:00:00Blackstone Names Liping Zhang as its Chairman for Greater China
06/30/201511:35:00FishNet Security Named 2014 National Partner of the Year by Juniper...
06/30/201509:50:00Blackstone Announces Second Quarter 2015 Media Call
06/30/201509:45:00Blackstone Announces Second Quarter 2015 Investor Call
06/30/201508:10:05Blackstone to Sell Security Services Unit for $1.67 Billion
06/30/201501:39:00Blackstone to Sell AlliedBarton to Wendel
06/18/201511:00:00Blackstone Portfolio Company Onyx Renewable Partners Establishes...
06/17/201511:24:00Blackstone and Multi Acquire Palmanova Outlet Village and AVM...
06/17/201508:40:11Filed Sunrun IPO Plans Close to Emerging Publicly
06/15/201516:15:00Jonathan Pollack to Join Blackstone Real Estate as Chief Investment...
06/15/201516:01:00Blackstone Mortgage Trust Declares $0.52 Per Share Dividend
06/15/201509:00:00Blackstone Portfolio Company Phoenix Tower International Announces...
06/12/201516:49:19Statement of Changes in Beneficial Ownership (4)
06/11/201504:00:00Blackstone & Black Rhino Announce Appointment of Lamido Sanusi...
06/10/201510:40:06Wells Fargo Sees Continued Growth Through Acquisitions
06/10/201510:26:00Wells Fargo Sees Continued Growth Through Acquisitions
06/08/201514:43:48Calpers to Cut External Money Managers by Half
06/08/201510:29:00Willis Tower Repositioning Team Announced: The Telos Group and...
06/05/201516:01:00Blackstone Mortgage Trust Announces Closing Of Public Offering...

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 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad