Peabody Energy $5.2 billion Chapter 11 restructuring

Overview:

• Coal mining company Peabody Energy has emerged from Chapter 11 bankruptcy. 
• Peabody was able to exit Chapter 11 proceedings after reducing its debt by $5.2 billion.
• PNC Bank acted as administrator and Citibank as bank agent on the debtor-in-possession financing that helped Peabody emerge from Chapter 11.
• Financing included $2.85 billion in credit facilities and $800 million in debtor-in-possession facilities. 
• Peabody first filed for Chapter 11 in April 2016. 

Kurt Stumpo - Journalist