Peabody Energy Corp. on Aug. 9 said it has received the requisite consent to amend the indenture that rules its 6% senior secured notes due in 2022 and 6.375% senior secured notes due in 2025.

The solicitations expire at 5 p.m. ET on Aug. 10, according to a news release. The coal producer proposed two changes to the indenture, including amending the "restricted payments" portion of Section 4.07 in the contract to allow for another category of permitted restricted payments that cannot exceed $800 million per year beginning in 2019, according to the release. Any unused amounts during the calendar year would transfer to the subsequent year and count toward restricted payments as well.

The "corporate existence" portion of section 4.13 would also be amended, allowing the company to make "certain determinations regarding the maintenance of the corporate existence of the company's restricted subsidiaries," according to the release.

All other terms of the senior secured notes will remain the same.

Holders who consent before the expiration time will receive $10 in cash per $1,000 principal amount of 6% senior secured notes due 2022 or $30 cash per $1,000 principal amount of 6.375% senior secured notes due 2025.

J.P. Morgan Securities LLC is acting as solicitation agent in connection with the solicitations.