Goldman Sachs Agents $950MM Exit Financing for Peabody Energy

Peabody Energy entered into a credit agreement for a $950 million term loan with Goldman Sachs Bank as administrative agent. The loan is part of Peabody’s exit financing as approved by the U. S. Bankruptcy Court for the Eastern District of Missouri.

Goldman Sachs, Others Arrange Peabody Upsize to $950MM

Peabody Energy increased its term loan to $950 million from $500 million as part of its post-Chapter 11 restructuriing plan. Goldman Sachs, JPMorgan Chase and Credit Suisse Securities were joint lead arrangers.

Peabody Energy Gets Court OK for $800MM Citibank DIP

Peabody Energy has received final approval from the bankruptcy court for its $800 million DIP financing facility. Citibank served as administrative agent for the lender group.

Court OKs Peabody $800MM DIP Financing with Citigroup

The U.S. Bankruptcy Court for the Eastern District of Missouri affirmed, on an interim basis, Peabody’s $800 million DIP financing facility provided by a lender group led by Citigroup.

Peabody Files Chapter 11, Citigroup Arranges $800MM DIP

Peabody Energy has filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of Missouri. Citibank arranged $800 million in DIP financing for the company.

Fitch Cuts Peabody Energy’s Long-Term IDR to ‘CC’

Fitch Ratings has downgraded Peabody Energy’s long-term issuer default rating to ‘CC’ from ‘CCC’. Approximately $8.4 billion in face amount of obligations is affected by the rating actions.

Peabody Lenders Said to Hire Law Firm for Debt Discussions

Bloomberg reported that a group of Peabody Energy’s senior lenders hired law firm Davis Polk & Wardwell to help protect the value of their assets as they anticipate the company will begin talks to restructure it $6.3 billion of debt.

Citibank Agents Peabody Energy Facility Amendment

Peabody Energy amended its existing secured credit facility. According to the company 8-K filing, Citibank served as administrative agent, swing line lender and L/C issuer.

Citigroup Said to Arrange Financing for Peabody Energy

Bloomberg reported that Peabody Energy is seeking a $1.2 billion loan to refinance existing debt, with Citigroup arranging the term B financing.