https://www.miningweekly.com
Business|Coal|Energy|Projects|Steel|Environmental|Operations
Business|Coal|Energy|Projects|Steel|Environmental|Operations
business|coal|energy|projects|steel|environmental|operations

Peabody lines up $2.1bn loan to buy Anglo’s coal business

26th November 2024

By: Bloomberg

  

Font size: - +

Peabody Energy has obtained a $2.075-billion bridge loan from a mix of banks and private credit to back its acquisition of Anglo American’s steelmaking coal business.

The US miner plans to refinance the loan before the acquisition closes in the first half of next year, the company said in a public filing. Jefferies, Deutsche Bank, KKR Capital Markets and KKR Corporate Lending are providing the loan, according to the statement.

Private credit has emerged as a financing alternative to traditional lenders that have become reluctant to fund projects that may trigger environmental, social and governance risks. Australian coal miner Whitehaven Coal earlier this year secured a $1.1-billion loan from 17 private credit providers and one bank for the purchase of two mines from BHP Group.

Peabody agreed to acquire Anglo American’s coal operations in Australia’s Queensland state to expand into metallurgical coal production, used in the manufacture of steel. The company has separately inked a deal to sell a controlling interest in one of the mines to Indonesia’s PT Delta Dunia Makmur for $455-million.

Anglo American’s sale of its coal business in Australia is part of a restructuring strategy to fend off a $49-billion takeover offer from BHP Group earlier this year.

Edited by Bloomberg

Comments

Showroom

Avlock International
Avlock International

Avlock International is a leading manufacturer and distributor of Specialized Fastening Systems.

VISIT SHOWROOM 
Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 06 December 2024
Magazine round up | 06 December 2024
6th December 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.083 0.115s - 129pq - 2rq
Subscribe Now