PEABODY ENERGY CORPORATION (OTCMKTS:BTUUQ) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On September18, 2017, Peabody Energy Corporation (the “Company”) amended its Credit Agreement (the “Credit Agreement”) by entering into Amendment No.1 to Credit Agreement (the “Amendment”), by and among the Company, the subsidiaries of the Company party thereto as reaffirming parties, the lenders party thereto and Goldman Sachs Bank USA, as administrative agent.
to the Amendment, the Company, among other things, incurred a new class of term loans (the “New Term Loans”) in an aggregate principal amount equal to $647,625,000 and repaid $647,625,000, constituting all of the term loans outstanding immediately prior to the Amendment. The New Term Loans were fully drawn on September18, 2017. The New Term Loans bear interest at a fluctuating rate of LIBOR plus 3.5% per annum with a 1.00% LIBOR floor and mature on March 31, 2022.
The Amendment also permits the Company to add an incremental revolving credit facility in addition to the Company’s ability to add one or more incremental term loan facilities under the Credit Agreement. The incremental revolving credit facility and/or incremental term loan facilities can be in an aggregate principal amount of up to $300,000,000 plus additional amounts so long as the Company maintains compliance with the leverage ratios as more fully described in the Credit Agreement. The Amendment also provides for an additional restricted payment basket that permits additional repurchases, dividends or other distributions with respect to the Company’s common and preferred stock in an aggregate amount up to $450,000,000.
The foregoing summary is qualified in its entirety by reference to the text of the Amendment, which is filed as Exhibit 10.1 hereto and is incorporated herein by reference.
| Item 1.01 | Financial Statements and Exhibits |
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ExhibitNumber |
Description |
| 10.1 | Amendment No. 1 to Credit Agreement, by and among Peabody Energy Corporation, the subsidiaries of the Peabody Energy Corporation party thereto as reaffirming parties, the lenders party thereto and Goldman Sachs Bank USA, as administrative agent. |
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EXHIBIT INDEX
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PEABODY ENERGY CORP ExhibitEX-10.1 2 d449546dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 AMENDMENT NO. 1 TO CREDIT AGREEMENT AMENDMENT NO. 1 TO CREDIT AGREEMENT (this “Amendment No. 1”),…To view the full exhibit click here
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.
