Peabody Energy Corp (BTU) on Monday said it has terminated its 2020 Transaction Support Agreement with surety providers and entered into new indemnification agreements to support its U.S. mine reclamation obligations.
The company also established asset-backed surety facilities for its Australian reclamation obligations, replacing cash-backed bank guarantees and cash deposits previously held with regulators.
The coal miner said the changes are expected to reduce its reclamation collateral requirements and remove a minimum liquidity covenant.
"These changes, along with the successful recent refinancing of the company's 2028 convertible notes, continue to enhance Peabody's financial strength and flexibility," said Executive Vice President and Chief Financial Officer Mark Spurbeck. "The additional liquidity afforded by the new surety arrangements allows the company to continue its multi-pronged strategy of balance sheet strength, disciplined capital allocation, and shareholder returns."
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.