Englewood, CO – June 3, 2014 – Westmoreland Coal Company (NasdaqGM:WLB) today announced the expiration of its offer, previously announced on May 7, 2014, to purchase up to $22,125,000 principal amount of its 10.75% Senior Secured Notes due 2018 (the “Notes”). The offer expired at 5:00 p.m. Eastern Time on Thursday, May 29, 2014.
As of the expiration of the offer, Westmoreland had received tenders for an aggregate principal amount of $1,015,000 of Notes, CUSIPs 960887AB3, U96068AC2, and 960887AD9, and accepted for purchase all of the Notes validly tendered. Westmoreland will pay in cash an amount equal to 100% of the principal amount of the Notes tendered, plus accrued and unpaid interest thereon, at 5:00 P.M. Eastern Time on June 3, 2014.
Westmoreland was required by the terms of its indenture governing the Notes to make this offer because it achieved certain financial results (as provided in the indenture) for the year ended December 31, 2013.
None of Westmoreland Coal Company or any of its affiliates, or its or their boards of directors, or the trustee for the Notes, made any recommendation as to whether holders of the Notes should tender or refrain from tendering the Notes. This announcement is not an offer to purchase, a solicitation of an offer to purchase, or a solicitation of an offer to sell any Notes or any other securities.