Re: Receivables Purchase Facility Commitment LetterPeabody Energy Corp • January 27th, 2017 • Bituminous coal & lignite surface mining
Peabody Energy Corporation (“Peabody”) and P&L Receivables Company, LLC (the “SPV” and, together with Peabody, collectively, “you”) have advised PNC Bank, National Association, as administrator (the “Administrator”), as a committed purchaser (the “Committed Purchaser”), as a purchaser agent (the “Purchaser Agent”), as an LC participant (the “LC Participant”) and as LC bank (the “LC Bank” and, together with the Administrator, the Committed Purchaser, the Purchaser Agent, the LC Participant and PNC Capital Markets LLC (“PNCCM”), the “Financial Institutions,” “we” or “us”) that, subject to the conditions set forth herein, in connection with the effectiveness of that certain Joint Plan of Reorganization Under Chapter 11 of the Bankruptcy Code for Peabody and its debtor subsidiaries, you intend to amend the existing securitization facility evidenced by the Fifth Amended and Restated Receivables Purchase Agreement, dated as of March 25, 2016, among the SPV, as the seller, Peabody, as the ser
