Peabody again extends expiration of tender offer for 8½% notes

By Wendy Van Sickle

Columbus, Ohio, Feb. 16 – Peabody Energy Corp. is again extending the expiration date for its offer to purchase up to $38,607,000 in total accreted value of its 8½% senior secured notes due 2024, according to a press release on Wednesday.

The offer is being extended to 5 p.m. ET on March 4 from 5 p.m. ET on Feb. 17, and, before that, from 5 p.m. ET on Feb. 14.

As of 5 p.m. ET on Feb. 16, Peabody reported $65,222 of the 2024 notes and no priority lien obligations had been tendered. At the original deadline, Peabody reported no notes and no priority lien obligations had been tendered.

As previously reported, the company is offering to purchase the notes at 94.94, plus interest to the settlement date.

Tenders may be withdrawn at any time before the extended expiration time.

Settlement is planned two business days after the expiration.

If the notes tendered and the amount repurchased from the loan exceed the $38,607,000 repurchase amount, the tendered notes may be prorated. The loan repurchase would also be prorated.

The available repurchase amount for the offer is equal to 25% of $154,431,000, 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 $949.40 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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