Moorcroft Leader - The Voice of the Community Since 1909, Serving Moorcroft and Pine Haven, Wyoming

By Greg Johnson
Gillette News Record Via Wyoming News Exchange 

Peabody reaches deal with creditors


December 31, 2020

GILLETTE — In a move that could potentially stave off a second Chapter 11 bankruptcy in five years for Peabody Energy Corp., the company has announced an agreement with its creditors to refinance $459 million of debt.

The agreement, made in a Christmas Day a press release, includes all of its revolving lenders and about 65% of its 6% senior secured notes due in 2022. In the release, the company calls the deal a “comprehensive financing solution” to help give it some financial breathing room as it continues to drown in red ink.

“Today’s announcement is significant for the company a...

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