ST. LOUIS, March 2, 2015 /PRNewswire/ -- Peabody Energy
(NYSE: BTU) announced today that, subject to market conditions, it
intends to offer $1.0 billion
aggregate principal amount of senior secured second lien notes due
in 2022 in a private placement to eligible purchasers.
Subject to the successful completion of this offering, Peabody
intends to use the net proceeds from the sale of the notes to fund
a tender offer to purchase for cash any and all of the $650 million aggregate principal amount
outstanding of its 7 3/8% Senior Notes due 2016 (the "2016 notes"),
to fund the redemption or satisfaction and discharge of all 2016
notes that are not tendered in the tender offer and for general
corporate purposes, which may include the payment of its federal
coal lease expenditures.
The notes will be secured by a second-priority lien on all of
the assets that secure the company's and the guarantors'
obligations under the company's senior secured credit facility,
subject to permitted liens and other limitations.
The notes and related guarantees will be offered only to
qualified institutional buyers under Rule 144A of the Securities
Act of 1933, as amended (the "Securities Act"), and to non-U.S.
persons in transactions outside the
United States under Regulation S of the Securities
Act. The notes will not be registered under the Securities
Act, and unless so registered, may not be offered or sold in
the United States absent
registration or an applicable exemption from, or in a transaction
not subject to, the registration requirements of the Securities Act
and other applicable securities laws.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the
notes, in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction.
Peabody Energy is the world's largest private-sector coal
company and a global leader in sustainable mining, energy access
and clean coal solutions. The company serves metallurgical
and thermal coal customers in more than 25 countries on six
continents.
CONTACT:
Chris Curran
(314) 588-2765
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SOURCE Peabody Energy