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Re: LouisDesyjr post# 1702

Friday, 03/17/2017 12:14:21 PM

Friday, March 17, 2017 12:14:21 PM

Post# of 3266
Judge to sign order approving Peabody Energy's Chapter 11 exit
Peabody Energy (OTCPK:BTUUQ) looks set to exit Chapter 11 bankruptcy early next month after a bankruptcy judge said he would approve its plan to cut more than $5B of debt.
BTU's reorganization plan, which will repay secured lenders in full and received overwhelming support from its creditors, will be financed through a $1.5B sale of stock, consisting of a $750M rights offering available to bondholders and a $750M private placement of preferred equity for institutional investors.
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