April 14 (Reuters) - Peabody Energy Corp BTU.N
* Peabody Energy announces court approval of first-day motions allowing business operations to proceed in ordinary course
* Court approves $800 million of debtor-in-possession financing facilities on interim basis
* Says continue to use existing cash management systems and maintain existing bank accounts
* Peabody to continue payments for goods and services purchased post-petition
* Facilities include a $500 million term loan, of which $200 million is now available to company
* All of company's mines and offices are continuing to operate in ordinary course of business
* Approvals also affirmed on an interim basis $800 million in debtor-in-possession financing facilities by a lender group led by Citigroup (NYSE:C)
* No Australian entities are included in filings, and Australian operations are also continuing as usual.
* Court will hold hearings in may to issue final orders regarding peabody's first-day motions including final approval of DIP financing
* Facilities also include 200 million bonding accommodation facility and a cash-collateralized $100 million letter of credit facility
* Has retained Jones Day as legal advisor, Lazard Fréres & Co. LLC as investment banker,financial advisor
* Peabody has retained FTI Consulting Inc as its restructuring advisor
* In remarks to court company noted DIP financing provides sufficient liquidity to enable peabody to operate in normal course of business
* Peabody received authorization from court to pay employees in usual manner
* Peabody received authorization from court to continue to use existing cash management systems and maintain existing bank accounts Source text for Eikon: ID:nPn3dHdgga Further company coverage: BTU.N
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