http://seekingalpha.com/article/414081-buying-the-dip-in-coal-with-select-bonds Let's examine some of the bonds of the coal companies mentioned earlier in this article to see if any might be enticing: Alpha Natural Resources' 6/1/2019 maturing, 6% coupon bond (CUSIP: 02076XAB8) is asking 95.1 cents on the dollar (6.869% yield-to-maturity before commissions). Furthermore, it has a call schedule that, at current prices, would be quite lucrative to the bond owner if the note were ever called. Moody's currently rates the note Ba3; S&P rates it BB. Arch Coal's 10/1/2020 maturing, 7.25% coupon bond (CUSIP: 039380AC4) is asking 97.48 cents on the dollar (7.655% yield-to-maturity before commissions). Furthermore, it has a call schedule that, at current prices, would be quite lucrative to the bond owner if the note were ever called. Moody's currently rates the note B1; S&P rates it B+. Patriot Coal's 4/30/2018 maturing, 8.25% coupon bond (CUSIP: 70336TAC8) is asking 90.45 cents on the dollar (10.386% yield-to-maturity before commissions). Furthermore, it has a call schedule that, at current prices, would be quite lucrative to the bond owner if the note were ever called. Moody's currently rates the note B3; S&P rates it B. James River Coal Company's 4/1/2019 maturing, 7.875% coupon bond (CUSIP: 470355AG3) is asking 70.878 cents on the dollar (14.62% yield-to-maturity before commissions). Furthermore, it has a call schedule that, at current prices, would be quite lucrative to the bond owner if the note were ever called. Moody's currently rates the note B2; S&P rates it B+. Peabody Energy's bonds have not pulled back like the bonds of the other four coal companies. While you can still pick up yields in the 4%-7% range for maturities ranging from 2016 through 2026, the health of Peabody's bonds tells me that, at least for now, this is the company to focus your efforts on if you are looking for equity exposure in coal.