Peabody Energy Corporation - BTU STOCK NEWS

Peabody (NYSE: BTU) announced a transaction support agreement with all revolving lenders and approximately 65% of its 6.000% senior secured notes due 2022. This agreement aims to extend debt maturities and provide financial covenant relief, enhancing operational liquidity. Key aspects include the exchange of existing notes for new 2024 notes, moving the nearest debt maturity to December 2024, and eliminating restrictive covenants. Following successful completion, the company's capital structure would feature $1.52 billion in funded debt and a $324 million letter of credit facility.

Peabody (NYSE: BTU) announced an Exchange Offer for its outstanding 6.000% Senior Secured Notes due 2022, exchanging them for two series of new notes: 10.000% Senior Secured Notes and 8.500% Senior Secured Notes, both due December 31, 2024. The company also seeks consents to amend restrictive covenants in the existing notes' indenture. Eligible holders will receive varied consideration based on the timing of their tender. Peabody expects up to $22.5 million in aggregate accreted value to be offered for new notes after the settlement date, which is anticipated post-offer completion.

Peabody (NYSE: BTU) reported third-quarter 2020 revenues of $671.0 million, reflecting a 39% decline year-over-year. The company faced a net loss of $67.2 million and diluted loss per share of $0.66. Despite achieving record-low Powder River Basin costs per ton of $7.93, U.S. thermal revenues fell by $215.4 million. Peabody's cash reserves stood at $814.6 million. The company reached a standstill agreement with surety bond providers to address $800 million in collateral requests while exploring further financing alternatives.

Peabody (NYSE: BTU) will announce its quarterly results for the period ending September 30, 2020, on November 9, 2020, at 10 a.m. CST. A conference call will follow the announcement, accessible via several phone numbers for participants from different regions. Peabody is a leading coal producer, operating in over 25 countries and focusing on sustainable practices to support global energy and infrastructure needs. For more details, visit PeabodyEnergy.com.

Peabody has announced the appointment of Darren Yeates as Executive Vice President and Chief Operating Officer, effective November 1, 2020. Yeates, who has over 35 years of industry experience, will oversee all company operations, including sales, marketing, and supply chain. He has been on Peabody's board since February 2020 and will continue in this role. Yeates has held significant positions at companies like MACH Energy and Rio Tinto. Peabody is a major coal producer, supplying customers worldwide and emphasizing sustainability in its strategy.

On September 29, 2020, Peabody (NYSE: BTU) announced that the U.S. District Court supported the FTC's decision to block its joint venture with Arch Resources for the Powder River Basin and Colorado assets. CEO Glenn Kellow expressed disappointment, emphasizing the competitive landscape against natural gas and renewables. Peabody aims to remain a low-cost coal provider, ensuring reliable and affordable energy for customers. With significant operations across 25 countries, Peabody focuses on sustainability while delivering essential products for electricity and infrastructure.

In its second quarter 2020 results, Peabody (NYSE: BTU) reported revenues of $626.7 million, a significant drop attributed to lower shipment volumes and weak pricing, particularly in its seaborne operations. The net loss attributable to common stockholders was $1.54 billion, translating to a diluted loss per share from continuing operations of $15.76. Adjusted EBITDA was $23.4 million. Challenges included a $1.42 billion impairment on the North Antelope Rochelle Mine and restructuring charges totaling $16.5 million. Despite cash and equivalents of $848.5 million, the outlook remains cautious due to ongoing market uncertainties.

On August 5, 2020, Peabody (NYSE: BTU) will announce its financial results for the quarter ended June 30, 2020. A conference call with management is scheduled for 10 a.m. CDT on the same day. Investors can access the call through various phone numbers depending on their location, including (888) 312-3049 for U.S. and Canada. Peabody is a leading coal producer, serving over 25 countries and focusing on sustainability as part of its strategy.

Peabody (NYSE: BTU) announced the appointment of William "Bill" Champion to its Board of Directors, enhancing its leadership with his extensive operational expertise in the metals and mining sector. Champion previously held executive roles at Rio Tinto PLC and is currently involved with Gladiator Mining Group LLC. Teresa Madden has resigned from the board, with Nick Chirekos taking over as Chair of the Audit Committee. Peabody continues to serve customers globally in coal production, focusing on sustainability in its operations.