Peabody Energy (NYSE:BTU) has obtained a $2.075B bridge loan from a mix of banks and private credit to back its acquisition of Anglo American's metallurgical coal business, Bloomberg reported Tuesday.

"Peabody secures $2.1bn loan to acquire Anglo American’s coal operations" was originally created and published by Mining Technology, a GlobalData owned brand.

With US demand for coal waning, Peabody Energy Corp. has struck a deal to shift its focus on targeting growth in the global steel market.

Peabody Energy Corp. has obtained a $2.075 billion bridge loan from a mix of banks and private credit to back its acquisition of Anglo American Plc’s steelmaking coal business. Most Read from BloombergNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Kansas City,

"Peabody to acquire Anglo American’s steel-making coal assets in Australia for $2.32bn" was originally created and published by Mining Technology, a GlobalData owned brand.

Anglo American is selling its remaining steelmaking coal assets for up to $3.8 billion to U.S. firm Peabody Energy, as the London-listed mining giant restructures its business after rejecting several takeover bids by rival BHP.

(Reuters) -Anglo American on Monday agreed to sell its Australian steelmaking coal mines to Peabody Energy for a cash consideration of up to $3.78 billion, in its first major disposal as part of a wider restructuring plan.

Anglo American (LSE:AAL,OTCQX:AAUKF) said on Monday (November 25) that it has entered into definitive agreements to sell its entire steelmaking coal business in Australia to Peabody Energy (NYSE:BTU).