Murray Energy Lenders to Buy Miner for $1.2b of Debt: Filing

A group of Murray Energy Corp. lenders will swap $1.2 billion of debt for ownership of the bankrupt coal miner after no other suitors emerged before a bid deadline, court papers show.

• With no other bids, an auction scheduled for this week is canceled, per court papers
• A hearing on the sale and Murray’s bankruptcy plan, which are subject to court approval, is slated for June 2
• Court papers previously showed the lender group buying Murray included Silver Point Capital, Bain Capital Credit and Eaton Vance Management
• PREVIOUSLY: Murray Energy Lenders Bid $1.2 Billion of Debt to Buy Miner ...