Lisle, Ill., Dec. 11, 2017 /PRNewswire/ -- SunCoke
Energy, Inc. (NYSE: SXC) announced today that it will redeem all of
its outstanding 7.625% Senior Notes due 2019 (the "2019 Notes").
The aggregate principal amount outstanding of the 2019 Notes is
$44,600,000. The redemption price for
the 2019 Notes will be equal to 100.000% of the principal amount of
the 2019 Notes to be redeemed, plus accrued and unpaid interest up
to, but not including, the redemption date, for a total payment to
holders of the 2019 Notes of approximately $46,111,444 in the aggregate. The redemption of
the 2019 Notes is expected to occur on January 11, 2018. SXC intends to fund the
redemption with an incurrence of incremental term loans in the
aggregate principal amount of $45,000,000 maturing on May 24, 2022, under SXC's existing Amended and
Restated Credit Agreement, dated as of May
24, 2017, with Bank of America, N.A. as the administrative
agent and the lenders and other parties party thereto. On and after
the redemption date, the 2019 Notes will no longer be deemed
outstanding, interest will cease to accrue thereon and all rights
of the holders of the 2019 Notes will cease, except for the right
to receive the redemption price. The Bank of New York Mellon Trust
Company is the trustee for the 2019 Notes and is serving as the
paying agent for this transaction.
FORWARD-LOOKING STATEMENTS
Some of the statements included in this press release constitute
"forward-looking statements" (as defined in Section 27A of the
Securities Act of 1933, as amended and Section 21E of the
Securities Exchange Act of 1934, as amended). Forward-looking
statements include all statements that are not historical facts and
may be identified by the use of such words as "believe," "expect,"
"plan," "project," "intend," "anticipate," "estimate," "predict,"
"potential," "continue," "may," "will," "should" or the negative of
these terms or similar expressions. Forward-looking
statements are inherently uncertain and involve significant known
and unknown risks and uncertainties (many of which are beyond the
control of SXC) that could cause actual results to differ
materially.
Such risks and uncertainties include, but are not limited to
domestic and international economic, political, business,
operational, competitive, regulatory and/or market factors
affecting SXC, as well as uncertainties related to: pending
or future litigation, legislation or regulatory actions; liability
for remedial actions or assessments under existing or future
environmental regulations; gains and losses related to acquisition,
disposition or impairment of assets; recapitalizations; access to,
and costs of, capital; the effects of changes in accounting rules
applicable to SXC; and changes in tax, environmental and other laws
and regulations applicable to SXC's businesses.
Forward-looking statements are not guarantees of future
performance, but are based upon the current knowledge, beliefs and
expectations of SXC management, and upon assumptions by SXC
concerning future conditions, any or all of which ultimately may
prove to be inaccurate. The reader should not place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. SXC does not intend, and
expressly disclaims any obligation, to update or alter its
forward-looking statements (or associated cautionary language),
whether as a result of new information, future events or otherwise
after the date of this press release except as required by
applicable law.
In accordance with the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, SXC has included in its
filings with the Securities and Exchange Commission cautionary
language identifying important factors (but not necessarily all the
important factors) that could cause actual results to differ
materially from those expressed in any forward-looking statement
made by SXC. For information concerning these factors, see
SXC's Securities and Exchange Commission filings such as its annual
and quarterly reports and current reports on Form 8-K. All
forward-looking statements included in this press release are
expressly qualified in their entirety by such cautionary
statements. Unpredictable or unknown factors not discussed in
this release also could have material adverse effects on
forward-looking statements.
ABOUT SUNCOKE ENERGY, INC.
SunCoke Energy, Inc. (NYSE: SXC) and its sponsored master
limited partnership subsidiary, SunCoke Energy Partners, L.P.
(NYSE: SXCP), supply high-quality coke used in the blast furnace
production of steel, under long-term, take-or-pay contracts that
pass through commodity and certain operating costs to customers. We
utilize an innovative heat-recovery technology that captures excess
heat for steam or electrical power generation. Our cokemaking
facilities are located in Illinois, Indiana, Ohio, Virginia, Brazil and India. We have more than 50 years of
cokemaking experience serving the integrated steel industry.
Through SXCP, we provide export and domestic coal handling services
to the coke, coal, steel and power industries. Our coal handling
terminals have the collective capacity to blend and transload more
than 35 million tons of coal each year and are strategically
located to reach Gulf Coast, East Coast, Great Lakes and
international ports. To learn more about SunCoke Energy, Inc.,
visit our website at www.suncoke.com.
SOURCE SunCoke Energy, Inc.