PEABODY ENERGY CORPORATION (OTCMKTS:BTUUQ) Files An 8-K Bankruptcy or Receivership
Item1.03
| Bankruptcy or Receivership |
As previously disclosed, on April13, 2016, Peabody Energy
Corporation, a Delaware corporation (Peabody Energy or the
Company), and a majority of the Companys wholly owned domestic
subsidiaries, as well as one international subsidiary in
Gibraltar (collectively with the Company, the Debtors and, solely
following the Effective Date (as defined below), the Reorganized
Company or Reorganized Debtors, as applicable), filed voluntary
petitions under Chapter 11 of Title 11 of the U.S. Code (the
Bankruptcy Code) in the United States Bankruptcy Court for the
Eastern District of Missouri (the Bankruptcy Court). The Debtors
Chapter 11 cases (collectively, the Chapter 11 Cases) are being
jointly administered under the caption In re Peabody Energy
Corporation, et al., Case No.16-42529.
Confirmation of the Plan
On March 17, 2017, the Bankruptcy Court entered an order, Docket
No. 2763 (the Confirmation Order), attached hereto as Exhibit
2.1, confirming the Debtors Second Amended Join Plan of
Reorganization of Debtors and Debtors in Possession as revised
March 15, 2017 (the Plan). The Plan incorporates by reference
certain documents filed with the Bankruptcy Court as part of the
supplements to the Plan filed with the Bankruptcy Court on
March6, 2017 and March 15, 2017 (collectively, the Plan
Supplement). A copy of the Plan is attached hereto as Exhibit 2.2
and is incorporated by reference herein.
The Plan will become effective when certain conditions are
satisfied or waived, including, (a)the documents governing the
Reorganized Debtors new $950million senior secured term loan (the
Exit Facility) must have been duly executed and delivered by the
Reorganized Debtors parties thereto, and all conditions precedent
to the consummation of the Exit Facility must have been waived or
satisfied in accordance with the terms thereof, and the closing
of the Exit Facility must have occurred; (b)the conditions
precedent to the consummation of the Rights Offering and the
Private Placement (each as defined below) must have been
satisfied or waived by the parties thereto, and the Reorganized
Debtors must have received (or will receive simultaneously with
the consummation of the Plan) the amounts required to be funded
thereunder in the aggregate gross amount of not less than
$1.5billion; (c)all documents and agreements necessary to
implement the Plan must have been executed; and (d)the Debtors
must have received all authorizations, consents, legal and
regulatory approvals, rulings, letters, no-action letters,
opinions or documents that are necessary to implement the Plan
and that are required by law, regulation or order. The date on
which all conditions to the effectiveness of the Plan have been
satisfied or waived will be the Effective Date of the Plan. It is
possible that amendments could be made to the Plan prior to the
Effective Date.
The following is a summary of certain provisions of the Plan, as
confirmed by the Bankruptcy Court to the Confirmation Order, and
is not intended to be a complete description of the Plan. The
following summary is qualified in its entirety by reference to
the full text of the Plan (including the Plan Supplement). Copies
of the Plan and the Confirmation Order are available free of
charge at www.kccllc.net/Peabody. The information set forth on
the foregoing website shall not be deemed to be a part of or
incorporated by reference into this Current Report on Form 8-K.
Capitalized terms used but not defined in this Current Report on
Form 8-K have the meanings set forth in the Plan.
Treatment of Claims
The following is a high-level summary of the treatment of
classified claims and interests under the Plan, which is
qualified in its entirety by the terms of the Plan:
| First Lien Lender Claims |
(1) Paid in full in cash or (2)receipt of a combination of cash and a replacement secured first lien term loan. |
|
| Second Lien Notes Claims |
A combination of (1) $450million of cash, first lien debt or new second lien notes and (2)(a) new common stock, par value $0.01 per share, of the Reorganized Company (Reorganized Peabody Common Stock) and (b)subscription rights in the Rights Offering. |
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| Other Secured Claims |
At the election of the Debtors, (1)reinstatement, (2) payment in full in cash, (3)receipt of the applicable collateral or (4)such other treatment consistent with section 1129(b) of the Bankruptcy Code. |
|
| Other Priority Claims | Paid in full in cash. | |
| General Unsecured Claims |
Against Peabody Energy: A pro rata share of $5million in
Against the Encumbered Guarantor Debtors: (1)Reorganized
Against the Gold Fields Debtors: Units in the Gold Fields
Against Peabody Holdings (Gibraltar) Limited (Gib 1): No
Against the Unencumbered Debtors: Cash in the amount of |
|
| Convenience Claims |
Against Peabody Energy: Up to 72.5% of such claim in cash,
Against the Encumbered Guarantor Debtors: Up to 72.5% of |
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| MEPP Claim |
$75million in cash paid over five years as follows: (A)
MEPP Claim means any claim arising, or related to the |
|
| Unsecured Subordinated Debenture Claims |
(1) Payment of the reasonable and documented fees and expenses of the trustee under the 2066 subordinated indenture up to $350,000; and (2)solely in the event this class votes in favor of the Plan and in connection with the settlement of certain potential intercreditor disputes as part of the global settlement embodied therein, and only if the trustee under the 2066 subordinated indenture does not object to, and affirmatively supports, the Plan, holders of allowed Unsecured Subordinated Debenture Claims will receive from specified noteholder co-proponents their pro rata share of penny warrants exercisable for 1.0% of the fully diluted Reorganized Peabody Common Stock from the pool of penny warrants issued to the noteholder co-proponents under the Rights Offering and/or the terms of the Backstop Commitment Agreement (as defined below). |
|
| Intercompany Claims |
In accordance with the global settlement and compromise embodied in the Plan, all prepetition and postpetition intercompany claims will be ignored for purposes of calculating distributions to holders of claims to the Plan. At the Debtors option, and subject to the restructuring transactions contemplated by the Plan, on the Effective Date, intercompany claims may be reinstated, settled, offset, cancelled, extinguished or eliminated, including by way of capital contribution. Notwithstanding the foregoing, (A)the intercompany loans (1)owed by Gib 1 to Peabody IC Holdings, LLC (PIC Holdings), (2) owed by PIC Holdings to Peabody IC Funding Corp. and (3)owed by Peabody Energy Australia Pty Ltd. to Peabody Investment Corp. (PIC) will be treated as debt for purposes of calculating distributions to holders of claims to the Plan and (B)the principal balance of the Loan Agreement, dated as of April11, 2012, among PIC, as lender, and Peabody Energy Australia Pty Ltd, as borrower, will be reinstated on the Effective Date. |
|
| Section 510(b) Claims |
No recovery.
Section 510(b) Claim means any claim against a Debtor |
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| Peabody Energy Equity Interests |
No recovery. The Companys current equity securities will be cancelled and extinguished upon the Effective Date, and holders thereof will not be entitled to receive and will not receive or retain, any property or interest in property on account of those equity interests. |
|
| Subsidiary Debtor Equity Interests |
Reinstated, subject to the restructuring transactions contemplated by the Plan. |
The Exit Facility
to the Plan and as a condition to its effectiveness, the Company
expects to enter into the Exit Facility as contemplated by the
exit facility commitment letter, dated as of January11, 2017,
from Goldman Sachs Bank USA, JPMorgan Chase Bank, N.A., Credit
Suisse AG, Credit Suisse Securities (USA) LLC, Macquarie Capital
Funding LLC and Macquarie Capital (USA) Inc. (the Exit Facility
Commitment Letter). The Exit Facility Commitment Letter was filed
with the Bankruptcy Court on January11, 2017 and previously
disclosed on the Companys Current Report on Form 8-K filed with
the Securities and Exchange Commission (SEC) on January12, 2017.
The Exit Facility would be entered into on the Effective Date.
The Exit Facility provides for a $950million senior secured term
loan, matures in 2022 and bears interest at a fluctuating rate of
LIBOR plus 4.50% per annum with a 1.00% LIBOR floor.
Securitization Facility
On the Effective Date, the Company expects to extend and amend
the Fifth Amended and Restated Receivables Purchase Agreement,
dated as of March25, 2016 (as amended prior to the date hereof),
among PL Receivables Company, LLC, as the seller, the Company, as
the servicer, the sub-servicers party thereto, the various
purchasers and purchaser agents party thereto and PNC Bank,
National Association, as administrator, in order to, among other
things, (i)increase the purchase limit to an amount not to exceed
$250.0million, (ii)extend the facility termination date, and
(iii)add certain Australian subsidiaries of the Company as
originators.
The Rights Offering, the Backstop Commitment
Agreement and the Private Placement
The Plan contemplates two separate capital raises through the
sale of equity interests in the Reorganized Company. First, the
Plan provides for a $750million rights offering (the Rights
Offering) to which all holders of allowed Second Lien Notes
Claims and specified allowed General Unsecured Claims (including
unsecured notes claims) as of January27, 2017 received
subscription rights to purchase units consisting of (a)shares of
Reorganized Peabody Common Stock and (b)penny warrants
exercisable for 2.5% of the fully diluted Reorganized Peabody
Common Stock on the Effective Date (after giving effect to the
reservation and deemed issuance of shares of common stock for
issuance upon the conversion of the Series A Convertible
Preferred Stock (as defined below), but subject to dilution by
the shares of common stock to be issued to the LTIP (as defined
below) and any post-Effective Date issuance of capital stock).
The purchase price for the units in the Rights Offering will be
55% of the Plan Equity Value (as defined in the Plan) of the
shares of Reorganized Peabody Common Stock that are to be issued
in connection with the exercise of the subscription rights in the
Rights Offering. to the backstop commitment agreement, dated as
of December22, 2016 (as amended, the Backstop Commitment
Agreement), among the Company and the other parties thereto
(collectively, the Backstop Parties) previously disclosed on the
Companys Current Report on Form 8-K filed with the SEC on
December23, 2016, the Backstop Parties have agreed to backstop
50% of the Rights Offering on the terms set forth in the Backstop
Commitment Agreement.
Second, the Plan contemplates raising an additional $750million
through the sale of shares of a series of new mandatory
convertible preferred stock of the Reorganized Company (the
Series A Convertible Preferred Stock) in a private offering (the
Private Placement). to the private placement agreement, dated as
of December22, 2016 (as amended, the Private Placement
Agreement), among the Company and the other parties thereto
(collectively, the Private Placement Parties) previously
disclosed on the Companys Current Report on Form 8-K filed with
the SEC on December23, 2016, the Private Placement Parties have
agreed to purchase the
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Series A Convertible Preferred Stock at a purchase price equal to
the Plan Equity Value per share of Reorganized Peabody Common
Stock. Each share of Series A Convertible Preferred Stock will be
convertible into shares of Reorganized Peabody Common Stock at a
conversion ratio reflecting a 35% discount to the Plan Equity
Value per share of Reorganized Peabody Common Stock, which ratio
will be subject to adjustment as set forth in the certificate of
designation for the Series A Convertible Preferred Stock included
as part of Exhibit IV.H.1.a to the Plan. The aggregate purchase
price for the shares of Series A Convertible Preferred Stock to
be issued and sold in the Private Placement is $750million. The
Series A Convertible Preferred Stock will have a dividend rate of
8.5% per annum, payable semi-annually in kind as a dividend of
additional shares of Series A Convertible Preferred Stock and
will have a liquidation preference, optional and mandatory
conversion provisions, anti-dilution protection, voting rights
and certain other terms and conditions as set forth in the
certificate of designation for the Series A Convertible Preferred
Stock.
Long Term Incentive Plan
to the Plan, the Reorganized Company will adopt a long-term
incentive plan (LTIP). The LTIP will provide for a pool of 10% of
the fully diluted equity of the Reorganized Company (after giving
effect to the exercise of the penny warrants and the conversion
of the Series A Convertible Preferred Stock). Of this amount,
25.8% will be granted to employees and executives in connection
with the Effective Date in the form of restricted stock or units.
The material terms of the LTIP are set forth in Exhibit I.A.146
to the Plan.
Equity Securities to be Authorized, Issued and
Reserved for Issuance After Emergence
As of March1, 2017, the Company had 18,491,188 shares of common
stock, par value $0.01 per share, issued and outstanding. On the
Effective Date, all outstanding shares of the Companys common
stock will be cancelled and extinguished, and any rights of any
holder in respect thereof will be deemed cancelled, discharged
and of no force or effect. The New Certificate of Incorporation
will authorize the issuance of 450,000,000 shares of Reorganized
Peabody Common Stock and 100,000,000 shares of preferred stock,
par value $0.01 per share, of the Reorganized Company, of which
50,000,000 shares will be designated as Series A Convertible
Preferred Stock.
On the Effective Date, the Reorganized Company will issue or
reserve for issuance shares of Reorganized Peabody Common Stock
for distribution in accordance with the Plan. to the Plan, on the
Effective Date 71,836,154 shares of Reorganized Peabody Common
Stock and 30,000,000 shares of Series A Convertible Preferred
Stock will be issued. The Reorganized Company will also reserve
for issuance a sufficient number of shares to be issued to the
exercise of the penny warrants, the payment of dividends on the
Series A Convertible Preferred Stock, the conversion of the
Series A Convertible Preferred Stock and awards granted under the
LTIP.
Treatment of Executory Contracts or Unexpired
Leases
On the Effective Date, to sections 365 and 1123 of the Bankruptcy
Code, each executory contract and unexpired lease to which any
Debtor is a party shall be deemed automatically rejected by the
Debtors, except for any executory contract or unexpired lease
that (i)has been assumed or rejected to an order of the
Bankruptcy Court entered before the Effective Date, (ii)is the
subject of a motion to assume or reject pending on the Effective
Date, (iii)is assumed, rejected or otherwise treated to Article
III of the Plan, or (iv)is listed on Exhibit III.A.1 of the Plan.
Assets and Liabilities
As of January31, 2017, the total assets and liabilities of
Peabody Energy were approximately
$11,763,200,000 and $11,360,200,000, respectively. This financial
information has not been audited or reviewed by Peabody Energys
independent registered public accounting firm and may be subject
to future reconciliation or adjustments. This information should
not be viewed as indicative of future results.
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| Item7.01 | Regulation FD Disclosure |
On March 16, 2017, the Company issued a press release announcing
the ruling by the Bankruptcy Court of the intention to confirm
the Plan after finalization of language regarding a Settlement
with the U.S. Department of Justice, a copy of which is attached
hereto as Exhibit 99.1 and incorporated herein by reference.
The information set forth in and incorporated into this Item 7.01
of this Current Report on Form 8-K is being furnished to Item
7.01 of Form 8-K and shall not be deemed filed for purposes of
Section18 of the Securities Exchange Act of 1934, as amended (the
Exchange Act), or otherwise subject to the liabilities of that
section, nor shall it be deemed incorporated by reference into
any of Peabody Energys filings under the Securities Act of 1933,
as amended, or the Exchange Act, whether made before or after the
date hereof and regardless of any general incorporation language
in such filings, except to the extent expressly set forth by
specific reference in such a filing. The filing of this Item 7.01
of this Current Report on Form 8-K shall not be deemed an
admission as to the materiality of any information herein that is
required to be disclosed solely by reason of Regulation
FD.
Cautionary
Note Regarding Forward-Looking Statements
This Current
Report contains forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995.
These forward-looking statements include statements that relate
to the intent, beliefs, plans or expectations of Peabody Energy
or its management at the time of this Current Report, as well as
any estimates or projections for the outcome of events that have
not yet occurred at the time of this Current Report. All
statements other than statements of historical fact are
forward-looking statements. Forward-looking statements include
expressions such as believe anticipate, expect, estimate, intend,
may, plan, predict, will and similar terms and expressions. All
forward-looking statements made by Peabody Energy are predictions
and not guarantees of future performance and are subject to
various risks, uncertainties and factors relating to Peabody
Energys operations and business environment, and the progress of
its Chapter 11 Cases, all of which are difficult to predict and
many of which are beyond Peabody Energys control. These risks,
uncertainties and factors could cause Peabody Energys actual
results to differ materially from those matters expressed in or
implied by these forward-looking statements. Such factors
include, but are not limited to: those described under the Risk
Factors section and elsewhere in Peabody Energys most recently
filed Annual Report on Form 10-K and subsequent filings with the
SEC, including its Quarterly Reports on Form 10-Q for the
quarters ended March31, 2016 and June30, 2016, which are
available on Peabody Energys website at www.peabodyenergy.com and
on the SECs website at www.sec.gov, such as unfavorable economic,
financial and business conditions, as well as risks and
uncertainties relating to the Chapter 11 Cases. Factors that
could affect Peabody Energys results or an investment in its
securities include, but are not limited to:
Factors related to
our Chapter 11 Cases
|
Peabody Energys ability to obtain bankruptcy court approval with respect to motions or other requests made to the bankruptcy court in connection with the Chapter 11 Cases, including maintaining strategic control as debtor-in-possession; |
| Peabody Energys ability to consummate the Plan; |
|
the effects of the Chapter 11 Cases on Peabody Energys operations, including customer, supplier, banking, insurance and other relationships and agreements; |
|
bankruptcy court rulings in the Chapter 11 Cases as well as the outcome of all other pending litigation and the outcome of the Chapter 11 Cases in general; |
|
the length of time that Peabody Energy will operate under Chapter 11 protection and the continued availability of operating capital during the pendency of the proceedings; |
|
risks associated with third-party motions in the Chapter 11 Cases, which may interfere with Peabody Energys ability to consummate the Plan and restructuring generally; |
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| increased advisory costs to execute the Plan; |
|
the volatility of the trading price of Peabody Energys common stock and the absence of correlation between any increases in the trading price and Peabody Energys expectation that the common stock will be canceled and extinguished on the Effective Date; |
|
Peabody Energys ability to continue as a going concern including its ability to consummate the Plan; |
|
the risk that the Plan does not become effective, in which case there can be no assurance that the Chapter 11 Cases will continue rather than be converted to chapter 7 liquidation cases or that any alternative plan of reorganization would be on terms as favorable to holders of claims and interests as the terms of the Plan; |
|
Peabody Energys ability to use cash collateral and the possibility that Peabody Energy may be required to post additional cash collateral to secure its obligations; |
|
the effect of the Chapter 11 Cases on Peabody Energys relationships with third parties, regulatory authorities and employees; |
|
the potential adverse effects of the Chapter 11 Cases on Peabody Energys liquidity, results of operations, or business prospects; |
|
Peabody Energys ability to execute its business and restructuring plan; |
|
increased administrative and legal costs related to the Chapter 11 Cases and other litigation and the inherent risks involved in a bankruptcy process; |
|
the cost, availability and access to capital and financial markets, including the ability to secure new financing after emerging from the Chapter 11 Cases; |
|
the risk that the Chapter 11 Cases will disrupt or impede Peabody Energys international operations, including its business operations in Australia; |
Other
factors
|
competition in the energy market and supply and demand for Peabody Energys products, including the impact of alternative energy sources, such as natural gas and renewables; |
|
global steel demand and the downstream impact on metallurgical coal prices, and lower demand for coal products by electric power generators; |
|
Peabody Energys ability to successfully consummate planned divestitures, including the planned sale of all of its equity interests in Metropolitan Collieries Pty Ltd, the entity that owns the Metropolitan coal mine in New South Wales, Australia; |
|
Peabody Energys ability to appropriately secure its requirements for reclamation, federal and state workers compensation, federal coal leases and other obligations related to its operations, including its ability to utilize self-bonding and/or successfully access the commercial surety bond market; |
| customer procurement practices and contract duration; |
|
the impact of weather and natural disasters on demand, production and transportation; |
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|
reductions and/or deferrals of purchases by major customers and Peabody Energys ability to renew sales contracts; |
|
credit and performance risks associated with customers, suppliers, contract miners, co-shippers, and trading, bank and other financial counterparties; |
|
geologic, equipment, permitting, site access, operational risks and new technologies related to mining; |
| transportation availability, performance and costs; |
|
availability, timing of delivery and costs of key supplies, capital equipment or commodities such as diesel fuel, steel, explosives and tires; |
|
impact of take-or-pay arrangements for rail and port commitments for the delivery of coal; |
|
successful implementation of business strategies, including, without limitation, the actions Peabody Energy is implementing to improve its organization; |
|
negotiation of labor contracts, employee relations and workforce availability, including, without limitation, attracting and retaining key personnel; |
|
Peabody Energys ability to comply with financial and other restrictive covenants in various agreements, including the credit facility proposed in connection with the Plan; |
|
changes in postretirement benefit and pension obligations and their related funding requirements; |
| replacement and development of coal reserves; |
|
effects of changes in interest rates and currency exchange rates (primarily the Australian dollar); |
| effects of acquisitions or divestitures; |
|
economic strength and political stability of countries in which Peabody Energy has operations or serves customers; |
|
legislation, regulations and court decisions or other government actions, including, but not limited to, new environmental and mine safety requirements, changes in income tax regulations, sales-related royalties, or other regulatory taxes and changes in derivative laws and regulations; |
|
Peabody Energys ability to obtain and renew permits necessary for its operations; |
|
litigation or other dispute resolution, including, but not limited to, claims not yet asserted; |
|
terrorist attacks or security threats, including, but not limited to, cybersecurity breaches; |
| impacts of pandemic illnesses; and |
|
other risks and factors, including those described under the Risk Factors section and elsewhere in Peabody Energys most recently filed Annual Report on Form 10-K and subsequent filings with the SEC including its Quarterly Reports on Form 10-Q for the quarters ended March31, 2016 and June30, 2016. |
Forward-looking
statements made by Peabody Energy in this Current Report, or
elsewhere, speak only as of the date on which the statements were
made. New risks and uncertainties arise from time to time, and it
is not
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possible for
Peabody Energy to predict all of these events or how they may
affect it or its anticipated results. Peabody Energy does not
undertake any obligation to publicly update any forward-looking
statements except as may be required by law. In light of these
risks and uncertainties, readers should keep in mind that the
events referenced by any forward-looking statements made in this
Current Report may not occur and should not place undue reliance
on any forward-looking statements.
The Plan provides
that Peabody Energy equity securities will be canceled and
extinguished on the Effective Date of the Plan by the Bankruptcy
Court, and that the holders thereof would not be entitled to
receive, and would not receive or retain, any property or
interest in property on account of such equity interests. The
Plan also sets forth the proposed recoveries for Peabody Energys
other securities. Trading prices for Peabody Energys equity or
other securities may bear little or no relationship during the
pendency of the Chapter 11 Cases to the actual recovery, if any,
by the holders thereof at the conclusion of the Chapter 11 Cases.
In the event of cancellation of Peabody Energy equity securities,
as contemplated by the Plan, amounts invested by the holders of
such securities would not be recoverable and such securities
would have no value. Accordingly, Peabody Energy urges caution
with respect to existing and future investments in its equity or
other securities.
| Item9.01 | Financial Statements and Exhibits |
(d)
Exhibits.
|
Exhibit Number |
Description |
|
| 2.1 |
Order Confirming Debtors Second Amended Join Plan of Reorganization of Debtors and Debtors in Possession as revised March 15, 2017 |
|
| 2.2 |
Debtors Second Amended Join Plan of Reorganization of Debtors and Debtors in Possession as revised March 15, 2017 |
|
| 99.1 | Press Release |
The Bankruptcy
Court filed the following exhibits to the Confirmation Order,
which, as permitted by Item 601(b)(2) of Regulation S-K, have
been omitted from this Current Report on Form 8-K. Peabody Energy
will furnish supplementally a copy of any exhibit to the
Confirmation Order to the SEC upon request.
| Appendix I: the Plan |
| Appendix II: Effective Date Notice |
In addition, the
Debtors filed with the Bankruptcy Court the following exhibits to
the Plan, which, as permitted by Item 601(b)(2) of Regulation
S-K, have been omitted from this Current Report on Form 8-K.
Peabody Energy will furnish supplementally a copy of any exhibit
to the Plan to the SEC upon request.
| Exhibit I.A.91 Encumbered Guarantor Debtors |
| Exhibit I.A.118 Gold Fields Debtors |
| Exhibit I.A.120 Gold Fields Liquidating Trust Agreement |
| Exhibit I.A.127 Historic Gold Fields Policies |
| Exhibit I.A.146 Material Terms of LTIP |
| Exhibit I.A.151 Material Terms of New Second Lien Notes |
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| Exhibit I.A.174 Material Terms of the Preferred Equity |
| Exhibit I.A.189 Registration Rights Agreement |
|
Exhibit I.A.196 Material Terms of Replacement Secured First Lien Term Loan |
| Exhibit I.A.244 Unencumbered Debtors |
|
Exhibit III.A.1 Executory Contracts and Unexpired Lease to be Assumed or Assumed and Assigned |
|
Exhibit III.B.1 Executory Contracts and Unexpired Leases to be Rejected |
| Exhibit IV.F.1 Restructuring Transactions |
|
Exhibit IV.H.1.a Form of Constituent Documents of Reorganized PEC |
|
Exhibit IV.H.1.b Form of Constituent Documents of Other Reorganized Debtors |
|
Exhibit IV.H.2 Initial Officers and Boards of Directors of Reorganized PEC and Other Reorganized Debtors |
| Exhibit V.E.9 Reorganized Debtors Retained Causes of Action. |
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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 00.00 at 1.72 with 3,485,001 shares trading hands.