Missouri-based Arch said it had started a private offering of $300 million of senior secured, second lien notes due in 2019.

The company said it intended to use the net proceeds from the offering and put it together with net proceeds from a Term Loan B facility, and cash on hand, to do a buyback of “any and all” of its outstanding 8.75% senior notes due in 2016, as well as redeem any outstanding for 2016.

Arch said the 2019 notes, subject to exceptions and liens, would be secured on a second priority basis. They will only be offered to qualified institutional buyers and to non-US individuals in transactions outside the country.

Late Wednesday, just hours before Arch’s announcement, Virginia-based miner Alpha Natural Resources announced a public offering of its own for $250 million in convertible senior notes. They will be due in 2020.

The notes will be convertible under certain circumstances and during certain periods into cash, Alpha's common stock or a combination. They will be guaranteed on a senior unsecured basis by each of Alpha's domestic subsidiaries, guaranteeing Alpha's obligations under Alpha's 9.75% senior notes due 2018.

Alpha said it intended to grant an over-allotment option to underwriters to purchase up to $37.5 million in additional notes on those same terms.

When the offering is complete, the miner will use the net proceeds to fund purchases and repayments for some of its outstanding indebtedness that matures earlier than the notes.

Any remaining net proceeds will be earmarked for general corporate purposes.