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WLT > SEC Filings for WLT > Form 8-K on 10-Mar-2014All Recent SEC Filings

Show all filings for WALTER ENERGY, INC.



Other Events

Item 8.01 Other Events.

Walter Energy, Inc. (the "Company") has commenced a process to amend its credit facility in order to increase its financial flexibility. The proposed amendments to the credit facility would, among other things, permit the Company to repay the existing term loan A facility without making a pro rata repayment to the existing term loan B facility. The amendment would provide that upon refinancing of the entire existing term loan A (and subject to a minimum amount of the new financing being raised in a form other than first lien debt, which could include second lien and/or convertible debt), certain covenants would be amended and certain covenants would be eliminated.

The Company intends at some point following the amendment process to refinance its existing term loan A facility. There is no assurance that any of these transactions will be consummated.

The securities to be offered will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Forward-Looking Statements

This Current Report contains various "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the proposed refinancing of the Company's debt, including those regarding the proposed use of proceeds therefrom. These forward-looking statements are made only as of the date of this report and are based on management's current expectations, assumptions, plans and beliefs. They involve risks and uncertainties that could cause actual future results, performance or developments to differ materially from those described in or implied by such forward-looking statements. Certain factors that could cause actual events not to occur as expressed in the forward-looking statements include, but are not limited to, the failure by the Company to successfully consummate the proposed financing transactions. Other potential risks and uncertainties are discussed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2013 and in subsequent reports and other documents filed with the Securities and Exchange Commission from time to time. The Company assumes no obligation to update the forward-looking information except as may be required by law. Such forward-looking statements are based upon many estimates and assumptions and are inherently subject to significant economic and competitive uncertainties and contingencies, many of which are beyond the control of the Company's management. Inclusion of such forward-looking statements herein should not be regarded as a representation by the Company that the statements will prove to be correct.

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