Peabody successfully upsized its revolving credit facility with additional commitments of $215 million (aggregate facility size of $565 million) and extended the maturity date for $540 million of the facility to 2023 as part of a comprehensive refinancing initiative.

According to a related 8-K filing, JPMorgan served as administrative agent for the transaction.

Additionally, the credit facility was amended to permit the company’s pending PRB/Colorado joint venture with Arch Coal.

The company’s revolving credit facility will bear interest at a rate determined by a pricing grid based on first lien leverage, and the financial covenant is unchanged. The company continues to have $395 million aggregate principal amount outstanding under its term loan facility maturing in March 2025.

Peabody a global pure-play coal company and a member of the Fortune 500, serving power and steel customers in more than 25 countries on six continents.