Arch Coal is seeking to raise around $2 billion in a private two-part sale of senior bonds. The first tranche of $1 billion securities, carrying a coupon rate of 7%, is due to mature in 2019.

The second tranche of $1.0 billion notes, carrying a rate of 7.25%, will mature in 2021. The U.S. coal produce plans to use the proceeds to partly fund its proposed acquisition of International Coal Group and other associated transactions.

Click here for the release from Arch Coal.