Alliance Resource Partners, L.P. (ARLP) announced on Wednesday that its affiliate, Alliance Resource Operating Partners, L.P., and subsidiary, Alliance Resource Finance Corp., plan to offer $400 million in Senior Convertible Notes due in 2029 to qualified investors.
The company indicated that the proceeds from this offering will be directed towards the redemption of existing 7.5 percent senior notes scheduled to mature in 2025, as well as for other general corporate purposes.
As of now, Alliance's stock is trading at $23.93, reflecting a minor decline of 0.21 percent on the Nasdaq.