Peabody Energy Corporation
Situation: Energy Giant Voluntarily Files for Chapter 11 Protection Amid Prolonged Industry Downturn
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2019年1月07日
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Peabody is the world’s largest private-sector coal producer with majority stakes in 23 mining operations in the United States and Australia. In April 2016, the company took a major step to strengthen liquidity and reduce debt amid a prolonged industry downturn by voluntarily filing petitions under Chapter 11.
FTI Consulting’s Role: Help the Client Try to Avoid – Then Prepare for – Bankruptcy Filing
Peabody engaged FTI Consulting to assist with extensive discussions with creditors on a variety of options, including many that would have restructured debt outside of a court process.
A global team of consultants with expertise in corporate finance and restructuring, as well as specific support from the FTI Consulting Global Mining Advisory practice began assisting the company and Lazard Frères with business planning, cash flow management, and forecasting.
FTI Consulting worked with Peabody’s treasury and finance departments to implement a comprehensive thirteen week cash flow forecasting and reporting process.
In advance of Peabody board’s decision to seek Chapter 11 protection, FTI Consulting worked with Jones Day and Lazard to prepare the necessary court filings and secure $750 million in debtor-in-possession (“DIP”) financing, including a $250 million bonding accommodation facility to secure the company’s reclamation obligations.
Related Information
出版
2019年1月07日
主な連絡先
Senior Managing Director, Australia Leader
Senior Managing Director, Co-Leader of U.S. Turnaround & Restructuring
シニア・マネージング・ディレクター
シニア・マネージング・ディレクター