PEABODY ENERGY CORPORATION (OTCMKTS:BTUUQ) Files An 8-K Other Events

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PEABODY ENERGY CORPORATION (OTCMKTS:BTUUQ) Files An 8-K Other Events
Item 8.01 Other Events.

As previously disclosed, on April 13, 2016, Peabody Energy Corporation, a Delaware corporation (the “Company”) and a majority of the Company’s wholly owned domestic subsidiaries, as well as one international subsidiary in Gibraltar (collectively with the Company, the “Debtors”), filed voluntary petitions under Chapter 11 of Title 11 of the U.S. Code (“Chapter 11”) in the United States Bankruptcy Court for the Eastern District of Missouri (the “Bankruptcy Court”). The Debtors’ Chapter 11 cases are being jointly administered under the caption In re Peabody Energy Corporation, et al., Case No. 16-42529.

In addition, as previously disclosed, on May 18, 2016, the Bankruptcy Court entered an order approving that certain Superpriority Secured Debtor-in-Possession Credit Agreement (the “DIP Credit Agreement”), dated April 18, 2016, between the Company, as borrower, Citibank, N.A., as administrative agent and the lender parties thereto on a final basis.

On December 2, 2016, the Company filed a motion with the Bankruptcy Court seeking, among other things, authority to pay in full all amounts outstanding under the DIP Credit Agreement prior to the scheduled maturity date and confirmation of the Company’s continued use of cash collateral (the “DIP Motion”). The Company expects that the repayment of its obligations under the DIP Credit Agreement will not impact the Company’s rights and obligations under settlement agreements and consent orders with certain state environmental regulatory agencies, including the superpriority administrative claims granted to and in accordance with the those agreements and orders, as noted in the DIP Motion and proposed order. The DIP Motion can be found at www.kccllc.net/Peabody.

 

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About PEABODY ENERGY CORPORATION (OTCMKTS:BTUUQ)

Peabody Energy Corporation is a coal company. The Company’s segments include Powder River Basin Mining, Midwestern U.S. Mining, Western U.S. Mining, Australian Metallurgical Mining, Australian Thermal Mining, Trading and Brokerage, and Corporate and Other. Its Powder River Basin Mining operations consist of its mines in Wyoming. Midwestern U.S. Mining operations reflect the Company’s Illinois and Indiana mining operations. Western U.S. Mining operations reflect the aggregation of the New Mexico, Arizona and Colorado mining operations. Australian Metallurgical Mining operations consist of mines in Queensland and New South Wales, Australia. Australian Thermal Mining operations consist of mines in New South Wales, Australia. Its Trading and Brokerage segment engages in the direct and brokered trading of coal and freight-related contracts through the trading and business offices. Its Corporate and Other includes selling and administrative expenses, and corporate hedging activities.

PEABODY ENERGY CORPORATION (OTCMKTS:BTUUQ) Recent Trading Information

PEABODY ENERGY CORPORATION (OTCMKTS:BTUUQ) closed its last trading session up +0.72 at 8.60 with 3,485,001 shares trading hands.