Walter Energy Inc. will miss an interest payment to junior noteholders due in four days as it negotiates with creditors to restructure its debt, Bloomberg News reported today. The unprofitable coal producer will enter into a 30-day grace period starting June 15 on $19 million due to holders of its $388 million 9.875 percent unsecured note maturing in December 2020, the company said yesterday. Walter’s plan to skip the coupon payment for now comes as it continues negotiations on a restructuring of its $3.1 billion debt load.
