Peabody Energy exits Chapter 11, will list on NYSE tomorrow

|About: Peabody Energy Corp. (BTU)|By:, SA News Editor

Peabody Energy (OTCPK:BTUUQ) announces its emergence from Chapter 11 protection, and will list on the NYSE tomorrow under its former BTU ticker symbol.

BTU, the largest U.S. coal producer, filed for bankruptcy protection in April 2016 following a sharp drop in coal prices left it unable to service $10.1B of debt, and it says it has reduced debt by more than $5B from pre-filing levels.

BTU says its financial focus will now be on reducing debt, targeting high-return investments and returning cash to shareholders over time.