Bloomberg reported that Arch Coal, in a bid to avoid a bankruptcy filing, is seeking a compromise with lenders opposing a debt-swap deal, according to people with knowledge of the matter.
Bloomberg said better terms may be offered to holders of the coal miner’s $1.9 billion loan as an incentive to drop their opposition to a proposal to swap as much as $2.38 billion of junior-ranking borrowings for new senior obligations, according to the people.
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