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 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.

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

US miner Peabody Energy has agreed to buy Anglo American’s remaining steelmaking coal mines in Australia for up to $3.78bn, securing a key first milestone in Anglo’s radical restructuring plan. The transaction is the first of four big business divestments that the company promised in May after it fought off a £39bn hostile takeover attempt from BHP.