Share this article Share this article ST. LOUIS, Jan. 29, 2021 /PRNewswire/ -- Peabody (NYSE: BTU) announced today that it has completed its previously announced exchange transaction following the tender of 86.86 percent of its senior secured notes due 2022. The closing of this transaction extends a substantial portion of Peabody's debt maturities to December 2024, eliminates its net leverage ratio covenant and finalizes a four-year standstill with its surety bond providers. "Closing of this transaction today is a significant milestone for the company and its many stakeholders," said Peabody President and Chief Executive Officer Glenn Kellow. "With the majority of our nearest term funded debt maturities now at the end of 2024, we believe these steps provide us with the additional flexibility needed to continue to pursue operational improvements as well as capture potential seaborne market improvements."