Peabody Energy to launch $900 million term loan B on Thursday

By Sara Rosenberg

New York, Sept. 4 – Peabody Energy Corp. is scheduled to hold a lender call at 2 p.m. ET on Thursday to launch a $900 million seven-year term loan B, according to a market source.

J.P. Morgan Securities LLC is the lead bank on the deal.

The term loan has 101 soft call protection for six months.

Commitments are due at 5 p.m. ET on Sept. 12, the source said.

Proceeds will be used to help fund tender offers for the company’s $500 million 6% senior secured notes due 2022 and $500 million 6 3/8% senior secured notes due 2025 and to refinance an existing term loan B.

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

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