Peabody gives results of offer to purchase 10% notes from cash flow

By Wendy Van Sickle

Columbus, Ohio, March 14 – Peabody Energy Corp.’s subsidiaries PIC AU Holdings LLC and PIC AU Holdings Corp. took in tenders of $263,000 notes under their offer to purchase up to $51.179 million total principal amount of 10% senior secured notes due 2024 from excess cash flow, according to a press release.

The offer was announced on Feb. 10 and expired at 5 p.m. ET on March 14.

The companies offered to purchase the notes for cash at par plus interest to the settlement date, which is to be March 16.

The amount represents a pro rata portion of excess cash flow with another portion to be applied to a concurrent debt repurchase of priority lien debt under a credit agreement from Jan. 29, 2021 with Wilmington Trust, NA as administrative agent.

Tenders may be subject to proration.

Wilmington Trust, NA is the trustee.

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

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