Associated Press Writer
SCOTT DEPOT — International Coal Group says it’s priced stock and note offerings it’s using to refinance debt.
The Scott Depot-based company says in a regulatory filing Thursday that it’s also upped the size of the offerings. ICG says it’s now planning to sell more than 22 million shares of common stock for just over $100 million. ICG had planned to sell 21.2 million shares. Underwriters have an option for up to 3.35 million more shares.
ICG says it’s upped the notes offering to $100 million, from $75 million. Underwriters also get an option for another $15 million in notes.
A second $200 million note offering hasn’t been priced yet.
ICG says it plans to use the money to buy back up to $139.5 million of 9 percent notes due 2012 and up to $175 million of 10.25 percent notes due 2014.
