trending Market Intelligence /marketintelligence/en/news-insights/trending/jxkzlolhxdnrlmzpitnboa2 content
BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
PRIVACY & COOKIE NOTICE
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *

* Required

In this list

Peabody appeases more creditors with updated plan

Cable Net Valuation Benchmarks Hit Recent Low In CBS-Viacom Deal

US Smart Cities Projects To Push Annual Revenue Over 700 Million In Five-Year Outlook

Panjiva Insights: The Global Trade War’s Impact and Road Ahead

MI Mobile App


Peabody appeases more creditors with updated plan

Peabody Energy Corp. has increased the consensus among creditors in an updated reorganization plan.

On Dec. 28, holders of about 25% of the outstanding principal amount of the company's senior unsecured notes and about 25% of the outstanding principal amount of the company's senior secured second-lien notes will become parties to various agreements, according to a company release.

"We are very pleased by the substantial incremental support our plan has received over the past few days," said Peabody Energy Executive Vice President and CFO Amy Schwetz. "The plan has gained significant additional consensus among Peabody's senior bondholders as we continue to move toward confirmation."

The coal producer has also reached an agreement with the creditor co-proponents of the plan to extend the deadline for the company's senior secured second-lien notes and senior unsecured notes. These will now become parties to certain agreements related to a proposed $750 million in common stock rights offering and $750 million of mandatory convertible preferred stock.

Peabody also said the U.S. Bankruptcy Court for the Eastern District of Missouri ordered it to allow certain holders of about 12% of the outstanding principal amount of Peabody's senior secured second-lien notes and about 7% of the outstanding principal amount of Peabody's senior unsecured notes to become phase-two parties to certain agreements if they submit joinders before 3 p.m. ET on Jan. 6, 2017.