Peabody Energy Corp. secured an additional $215 million commitment for its revolving credit facility, increasing its size to $565 million.
As part of the refinancing, the maturity date for $540 million of the credit facility has been extended to 2023. The credit facility was also amended to permit the company's pending Powder River Basin/Colorado joint venture with Arch Coal Inc., according to a Sept. 17 news release.
The credit facility will bear interest at a rate determined by a pricing grid based on first lien leverage.
