International Coal Group netted $188 million from a new debtoffering designed to ease a cash crunch that threatened three minedevelopment projects, according to a document filed with theSecurities and Exchange Commission.
A big chunk of the proceeds went to repay other debts, ICG said.The company paid off a $25 million loan from W.L. Ross & Co. Ross isICG's largest shareholder and the investment company of the company'schairman, Wilbur Ross.
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