Peabody extends offer to purchase 8½% senior secured notes, loan

Chicago, Aug. 6 – Peabody Energy Corp. is continuing to offer to purchase up to $13.28 million in total accreted value of its 8½% senior secured notes due 2024, according to a press release.

The company is still offering to purchase the notes at 73.84, plus interest to the settlement date.

The offer will now expire at 5 p.m. ET on Sept. 3, pushed back approximately one month from Aug. 6.

As of the original deadline, noteholders tendered $66,692 in aggregate principal amount of notes.

Tenders may be withdrawn at any time before the expiration time.

Settlement is planned two business days after the expiration.

Concurrently, Peabody is offering to make a debt repurchase offer under its credit agreement from Jan. 29, with JPMorgan Chase Bank, NA as administrative agent.

If the notes tendered and the amount repurchased from the loan exceed the $13.28 million repurchase amount, the tendered notes may be prorated. The loan repurchase would also be prorated.

As of the original early deadline, none of the priority lien obligations under the loan agreement had been tendered.

The available repurchase amount for the offer is equal to 25% of $53.127 million, which is the total aggregate principal and commitment amounts of priority-lien debt (as defined in the indenture) repurchased by Peabody pursuant to open-market repurchases during the debt repurchase quarterly period. In addition, the offer price of $738.40 represents the price per $1,000 accreted value of notes that is the weighted-average repurchase price for all priority lien debt repurchased by Peabody during the debt repurchase quarterly period.

Wilmington Trust, NA is the trustee.

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

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