Peabody, Arch Coal May File Chapter 11 Bankruptcy on Obama Rules
ByLisa AllenFollow | Kelsey ButlerFollow | 08/05/15 - 09:16 AM EDT
www.thestreet.com/story/13244580/2/...ptcy-on-obama-rules.html
Auszug....
One restructuring adviser who follows the coal industry but asked not to be named said the trading prices of Peabody Energy's debt suggest that it is one of the most challenged coal companies out there.
The company's $1.52 billion in 6% senior unsecured notes due Nov. 15, 2018 (announced Sept. 18, 2012) were trading at 35.4 cents on the dollar on Tuesday, according to data from Finra's Trace service. Peabody's longest-dated bond issuance, $250 million in 7.875% senior unsecured notes due Nov. 1, 2026 (announced Oct. 5, 2006) was trading even lower, changing hands at 27.33 cents on the dollar on Tuesday.
The hefty 2018 bond maturity could pose a major challenge for Peabody, but it doesn't have sizable payments due before then, CreditSights' Johnston said.
Die Rückzahlung der Anleihen könnte problematisch werden, die Bonds sind schon ziemlich im Keller, obwohl erstmalig erst 2018 was zurückgezahlt werden muss.
..CHina rückt den Amerikaner wohl auf die Pelle;
Deutsche Bank analyst James Kan noted in the report that there are more even problems on the horizon for coal producers outside of China, as he expects China will become a net exporter of coal by 2018. Currently it's a net importer.
Kan believes coal prices will hit bottom in 2017 or 2018 and then start to recover, but he said that for companies like Consol that export a lot of coal (31% of production volume in Consol's case), China becoming a net exporter of coal would drive further downward pressure.
ja und der Clean Power Plan von Obama;
Whatever happens in the end, the goals of the Clean Power Plan will influence power utilities as they decide what energy mix to provide in the coming years, the BB&T report said.
"That uncertainty can only lead to less, not more coal consumption, even if the [Clean Power Plan] is ultimately delayed or blocked," the BB&T analysts concluded.