Peabody Energy (BTU) said Monday it terminated its amended 2020 transaction support agreement with surety providers and entered into standard indemnification agreements to support its US mine reclamation obligations.
The company said it also established asset-backed surety facilities for its Australian reclamation obligations, replacing cash-backed bank guarantees and cash deposits previously held by regulators.
Peabody said the changes are expected to reduce overall reclamation collateral requirements and eliminate a minimum liquidity covenant.
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