Sundance Times - Continuing the Crook County News Since 1884

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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