Peabody Energy Completes $2.85 Billion Credit Facility, Extends Maturities And
Increases Financial Flexibility
ST. LOUIS, Sept. 24, 2013
ST. LOUIS, Sept. 24, 2013 /PRNewswire/ -- Peabody Energy (NYSE: BTU) today
announced that it completed a new secured credit facility, including an
expanded five-year $1.65 billion revolver due in 2018 and a seven-year $1.2
billion term loan due in 2020. The new credit facility replaces the company's
$1.5 billion revolver and $1.2 billion term loans due in 2015 and 2016.
"Peabody elected to capitalize on attractive market conditions and refinance
our existing credit facility to extend maturities and increase our liquidity
and financial flexibility," said Peabody Energy Executive Vice President and
Chief Financial Officer Michael C. Crews. "We continue to benefit from our
diversified global portfolio and remain focused on operational excellence,
cost containment, capital discipline and debt reduction."
The term loan has no financial covenants, and the new revolver covenants
significantly increase financial flexibility by modifying the leverage and
interest coverage calculations.
Peabody Energy is the world's largest private-sector coal company and a global
leader in sustainable mining and clean coal solutions. The company serves
metallurgical and thermal coal customers in more than 25 countries on six
continents. For further information, go to PeabodyEnergy.com and
SOURCE Peabody Energy
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