NARM coal train

Loaded coal trains move out from the North Antelope Rochelle coal mine south of Gillette.

In a move that could potentially stave off a second Chapter 11 bankruptcy in five years for Peabody Energy Corp., the company has announced an agreement with its creditors to refinance $459 million of debt.

The agreement, made in a Christmas Day a press release, includes all of its revolving lenders and about 65% of its 6% senior secured notes due in 2022. In the release, the company calls the deal a “comprehensive financing solution” to help give it some financial breathing room as it continues to drown in red ink.

(2) comments

jill

How much bonus money did the loser executives manage to steal in this round? I've always found it amazing that a company would pay a bonus to executives that lead them into bankruptcy (Cloud Peak anyone?)...smells like corruption to me...

Rezident

I really hope peabody makes changes in their management system, and gets rid of all the deadwood!

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