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Peabody Energy completes refinancing of credit facility

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.