Peabody now offers to buy any and all 10% secured term loan due 2024

Chicago, Nov. 8 – Peabody Energy Corp. said its subsidiaries PIC AU Holdings LLC and PIC AU Holdings Corp. upsized the offer to purchase the 10% senior secured term loan due 2024, according to a press release.

The borrowers are now offering to buy and all of the term loan.

As background, on Sept. 19 the co-issuers repurchased $20.4 million principal amount of their 10% senior secured term loan due 2024 at a weighted average purchase price of 105.91. The tender offer is intended to satisfy the requirements of the note indenture, which requires the co-issuers to make an offer to purchase an aggregate principal amount of notes equal to the aggregate principal amount of term loans so prepaid, repaid or repurchased within 30 days following a voluntary prepayment, repayment or repurchase of term loans.

The co-issuers simultaneously made a separate offer to purchase – at a price of 105.91 – a total principal amount of the term loan not to exceed the lesser of $61,194,954 and the total principal amount of notes repurchased in the offer less $20,355,045.

The company is conducting a tender offer for any and all of their $81.55 million of 10% senior secured notes due 2024.

Previously extended, the offers expire at 5 p.m. ET on Nov. 18. Settlement is expected to occur on Nov. 22.

As of 5 p.m. ET on Nov. 8, $64,199,000 of the notes had been validly tendered.

Wilmington Trust, NA is the note trustee.

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

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