Arch Resources, Inc., a premier producer of high-quality metallurgical products for the global steel industry, has announced the pricing of its offering of US$135 million aggregate principal amount of 5.25% convertible senior notes due 2025 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. The offering size was increased from the previously announced offering size of US$125 million aggregate principal amount of notes. The issuance and sale of the notes settled on November 3, 2020. Arch Resources also granted the initial purchasers of the notes an option to purchase up to an additional US$20.25 million principal amount of notes.
Latham & Watkins LLP represented Arch Resources in the offering with a corporate team led by New York partners Greg Rodgers, Keith Halverstam, and Charles Carpenter, Washington, D.C. partner Julia Thompson, and Washington, D.C. counsel Charles Cassidy, with Houston associates Ryan Lynch, Madeleine Neet, and Jessica Sherman. Advice was also provided on convertible debt matters by Los Angeles counsel Arash Aminian Baghai, with New York associate Ryan Gold; on equity derivatives matters by New York partner Catherine Lee, with New York associates Christopher Yu and Shawn Noh; and on tax matters by New York partners Bora Bozkurt and Elena Romanova, with New York associate Michael Yu.