Peabody Lenders Said to Hire Davis Polk for Debt Discussions

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  • Law firm to advise holders of $1.17 billion term loan
  • Creditors map out strategy to protect their interests

The coal industry is facing a downturn.

Photographer: Luke Sharrett/Bloomberg

A group of Peabody Energy Corp.’s senior lenders hired law firm Davis Polk & Wardwell LLP to help protect the value of their assets as they anticipate the company will begin talks to restructure its $6.3 billion of debt, according to a person with knowledge of the matter.

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