Why Peabody Energy’s Shares Popped 22% Today

1 min read

Shares of coal producer Peabody Energy (NYSE: BTU) jumped as much as 22% in trading on Monday after the company finalized an agreement with debtholders. At 2:50 p.m. EDT today, shares were near their highs of the day and showed no signs of stopping. 

An agreement announced on Thursday finalizes a proposed deal from Dec. 24. The deal extends the maturity of senior secured notes due in 2022 to a 2024 maturity date. The company’s revolving credit facility was also extended to December 2024. Part of the agreement also eliminates some covenants that management thought could restrict its flexibility.

Image source: Getty Images.

Continue reading

Leave a Reply

Your email address will not be published.

Previous Story

Why Coca-Cola Stock Got Crushed Today

Next Story

Why Blink Charging Dropped 12% Today

Latest from Blog