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

Citigroup Share News

 Citigroup Stock Price
C Stock Price
 Citigroup Stock Chart
C Stock Chart
 Citigroup Stock News
C Stock News
 Citigroup Company Information
C Company Information
 Citigroup Stock Trades
C 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 Citigroup (C)
DateTimeHeadline
06/28/201618:30:00Libyan Fund Officials Didn't Understand Goldman Trades, Attorney...
06/28/201614:40:00Fidelity Just Made Buying an Index Fund as Cheap as Vanguard
06/28/201612:32:27Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
06/28/201611:40:00Allegiant Air to Offer Flights From Newark Airport
06/28/201609:48:20Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
06/28/201608:30:00C-Tracks ETNs linked to the Miller/Howard MLP Fundamental Index...
06/28/201603:02:00Bank Stocks Lead a Global Selloff -- WSJ
06/27/201617:02:26Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
06/27/201616:58:32Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
06/27/201611:04:21Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
06/24/201618:10:00Bank Shares Plummet Around the World, but Europe Fares Worst
06/24/201616:40:00Brexit' Vote Leads to Frantic Day for Trading Desks, With Chill...
06/24/201613:00:33Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
06/24/201613:00:05Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
06/23/201618:16:00Citigroup Exceeds Fed Minimum Capital Level Under Stress Scenario
06/23/201617:19:00Citi Releases Certain Disclosures Required by the Federal Reserve...
06/23/201617:10:00Fed Stress Tests: All Big Banks Clear Bar for Capital Requirements
06/23/201617:00:00Citigroup Exceeds Fed Minimum Capital Level Under Stress Scenario
06/23/201617:00:00Wells Fargo Exceeds Fed Minimum Capital Level Under Stress Scenario
06/23/201612:54:18Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)

Citigroup 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

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad