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.

Anglo American signed a deal to sell its remaining steelmaking coal assets to U.S. miner Peabody Energy for up to $3.8 billion, the first major step in its large-scale business reshaping.

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.

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.

Peabody Energy has obtained a $2.075-billion bridge loan from a mix of banks and private credit to back its acquisition of Anglo American’s steelmaking coal business. The US miner plans to refinance the loan before the acquisition closes in the first half of next year,

Anglo American Plc said it’s agreed to sell its steelmaking coal business for about $4.9 billion, including the already announced sale of its interest in Jellinbah Group.

"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’s deal sits in line with the mining company’s plans to refocus its business on copper, iron ore and crop nutrients.

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,