PEABODY ENERGY CORPORATION (OTCMKTS:BTUUQ) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On November17, 2017, Peabody Energy Corporation (the “Company”) amended its Credit Agreement (as previously amended, the “Credit Agreement”) by entering into Amendment No.2 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, added an incremental revolving credit facility (the “Incremental Revolving Facility”) in an aggregate principal amount of $270,000,000. The interest rates per annum applicable to loans under the Incremental Revolving Facility will be (i)LIBOR plus 3.25% for LIBOR loans or (ii)a base rate plus 2.25% for base rate loans. The Incremental Revolving Facility matures on November17, 2020. The Incremental Revolving Credit Facility is available for general liquidity purposes. The Company initially intends to utilize the facility for the issuance of letters of credit.
The Amendment also adds a financial covenant for the benefit of the revolving lenders that measures the ratio of the Company’s consolidated first lien net debt (subject to an unrestricted cash netting cap of $800million) to the amount of the Company’s consolidated EBITDA (as defined in the Credit Agreement).
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. |
|
Exhibit Number |
Description |
| 10.1 | Amendment No.2 to Credit Agreement, by and among Peabody Energy Corporation, the subsidiaries of Peabody Energy Corporation party thereto as reaffirming parties, the lenders party thereto and Goldman Sachs Bank USA, as administrative agent. |
-2-
EXHIBIT INDEX
-3-
PEABODY ENERGY CORP ExhibitEX-10.1 2 d494220dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 AMENDMENT NO. 2 TO CREDIT AGREEMENT AMENDMENT NO. 2 TO CREDIT AGREEMENT (this “Amendment No. 2”),…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.
