Peabody begins cash tender offer for up to $22.5 million of 8½% notes

By Taylor Fox

New York, Feb. 10 – Peabody Energy Corp. began a cash tender offer to purchase up to $22.5 million of its 8½% senior secured notes due 2024 at a price equal to 80% of accreted value of the notes, plus interest, according to a news release.

Holders who tender notes will receive $800 per $1,000 of notes, plus interest.

If the amount of notes tendered exceeds the maximum acceptance amount, Peabody will accept notes on a pro rata basis.

The offer will expire at 5 p.m. ET on March 12.

The settlement date is expected to be the second business days after the offer expires.

Wilmington Trust, NA is the trustee.

Peabody is a St. Louis-based private sector coal company.

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