Peabody announced that it successfully completed an upsizing of 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.  Additionally, the credit facility was amended to permit the company's pending PRB/Colorado joint venture with Arch Coal, Inc.

Under the new agreement, JPMorgan Chase Bank replaces Goldman Sachs Bank USA as administrative agent, according to an SEC filing.

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 is a leading 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.  The company offers significant scale, high-quality assets, and diversity in geography and products.  Peabody is guided by seven core values: safety, customer focus, leadership, people, excellence, integrity and JPMorgan Chase.