Peabody Closes on New $320 Million Revolving Credit Facility
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Peabody has closed on a new $320 million senior secured revolving credit facility maturing in January 2028, subject to certain conditions relating to the company’s outstanding convertible senior notes due March 1, 2028. The facility will be guaranteed by certain of Peabody’s subsidiaries.
“This new revolving credit facility is intended to further enhance our financial resiliency during the period of investment at the Centurion Mine as part of our strategy to reweight Peabody’s long-term production and revenue toward premium Australian metallurgical coal,” said Mark Spurbeck, Peabody’s chief financial officer.
“Over the past two years, we have strengthened our balance sheet and implemented an initial $1.0 billion share repurchase program. We are now taking the next steps to achieve our goal of making the Centurion Mine a global leader in the metallurgical coal market,” added Spurbeck.
Peabody recently renamed the North Goonyella Mine to Centurion Mine
Peabody is a leading coal producer, providing essential products for the production of affordable, reliable energy, and steel. Its commitment to sustainability underpins everything they do and shapes their strategy for the future.
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