The company also has established asset-backed surety facilities to support its Australian reclamation obligations, replacing cash-backed bank guarantees and cash deposited directly with regulatory authorities.

Combined, these transactions are expected to reduce total reclamation collateral requirements and eliminate a minimum liquidity covenant, while maintaining an industry leading and well-collateralized global bonding program.

"These changes, along with the successful recent refinancing of the company's 2028 convertible notes, continue to enhance Peabody's financial strength and flexibility," said Executive Vice President and Chief Financial Officer Mark Spurbeck. "The additional liquidity afforded by the new surety arrangements allows the company to continue its multi-pronged strategy of balance sheet strength, disciplined capital allocation, and shareholder returns."