Arch Coal to extend interest payment grace period

Tue Dec 15, 2015 7:03am EST
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Dec 15 (Reuters) - Arch Coal Inc said it has chosen to extend by 30 days the time period the company has to make about $90 million in interest payment that was due on Tuesday.

Arch Coal, which ended a proposed debt swap in October that was seen as key to delaying a potential bankruptcy, said it plans to use the grace period to continue talks with creditors to restructure its balance sheet. (Reporting by Amrutha Gayathri in Bengaluru; Editing by Shounak Dasgupta)