Peabody announces tender for $27.2 million 10% PIC notes due 2024

By Wendy Van Sickle

Columbus, Ohio, July 29 – Peabody Energy Corp. said its subsidiaries PIC AU Holdings LLC and PIC AU Holdings Corp. launched a cash tender offer for up to $27,204,000 of their 10% senior secured notes due 2024, according to a press release on Friday.

The issuers are offering a purchase price of 103.91 plus accrued interest.

The offer will expire at 5 p.m. ET on Aug. 29. Settlement is expected two business days later.

Tendered notes may be withdrawn any time prior to that deadline. Tenders may be subject to proration.

Wilmington Trust, NA is the note trustee.

The $27,204,000 amount represents the pro rata portion of the excess cash flow to be applied to an offer to purchase the notes under the indenture, with the remainder to be applied to a concurrent debt repurchase offer of priority lien debt under the company’s credit agreement dated Jan. 29, 2021 with Wilmington Trust, NA as administrative agent.

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

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