St. Louis, US-based coal giant Peabody Energy announced on June 21 that it has completed a new five-year senior unsecured credit facility to replace its existing facility that was scheduled to mature in September 2011. The new facility includes a $1.5 billion revolver and a $500 million term loan.
According to a Peabody statement, Bank of America Securities LLC, Citigroup Global Markets, Inc. and HSBC Securities (USA) Inc. served as joint lead arrangers and joint book managers for the new credit facility. The facility was heavily oversubscribed and includes banks from the United States, Australia, Europe, China and other Asian nations.
"This new credit facility reflects our financial strength and the confidence of the credit markets in Peabody," said executive vice president and chief financial officer Michael C. Crews.