ST. LOUIS, March 2, 2015 /PRNewswire/ -- Peabody Energy
(NYSE: BTU) announced today that it is commencing 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 (CUSIP No. 704549AE4).
The tender offer is being made pursuant to an offer to purchase
dated March 2, 2015, and the related
letter of transmittal, which set forth the terms of the tender
offer. The following table sets forth the notes and certain
other terms of the offer:
Title of
Note
|
CUSIP
No.
|
Aggregate
Principal Amount Outstanding(1)
|
Tender Offer
Consideration(2)
|
Early Tender
Premium(2)
|
Total
Consideration(2)(3)
|
7 3/8% Senior Notes
due 2016
|
704549AE4
|
$650,000,000
|
$1,072.71
|
$30.00
|
$1,102.71
|
(1) As of Feb. 27,
2015.
(2) Per $1,000
principal amount of notes that are accepted for purchase.
(3) Includes the Early Tender premium.
Holders of notes that are validly tendered and not validly
withdrawn on or before 5:00 p.m.,
New York City time, on
March 13, 2015 (the "Early Tender
Deadline"), and accepted for purchase will receive the total
consideration specified in the table above for each $1,000 principal amount of notes accepted for
purchase. Holders of notes that are validly tendered after
5:00 p.m., New York City time, on March 13, 2015 but on or before 11:59 p.m., New York
City time, on March 27, 2015
and accepted for purchase will receive the tender offer
consideration specified in the table above. Holders whose
notes have been accepted for purchase will also receive accrued and
unpaid interest on the purchased notes from the applicable last
interest payment date to, but not including, the applicable date of
payment for purchased notes. The tender offer contemplates an
early settlement option, so that holders whose notes are validly
tendered prior to the Early Tender Deadline and accepted for
purchase could receive payment on an initial settlement date, which
is expected to be as early as March 16,
2015.
Tendered notes may be validly withdrawn at any time on or before
5:00 p.m., New York City time, on March 13, 2015, but not thereafter. Notes
tendered after 5:00 p.m.,
New York City time, on
March 13, 2015, but on or before
11:59 p.m., New York City time, on March 27, 2015, may not be withdrawn unless
Peabody is otherwise required by applicable law to permit the
withdrawal. Peabody reserves the right to terminate, withdraw or
amend the offer at any time, as described in the offer to
purchase.
The offer is scheduled to expire at 11:59
p.m., New York City time,
on March 27, 2015, unless extended.
The offer is conditioned on receipt of the net proceeds from
Peabody's offering of $1.0 billion
aggregate principal amount of senior secured second lien notes and
the general conditions set forth in the offer to purchase.
The offer is not conditioned on the tender of a minimum
amount of notes.
This press release shall not constitute an offer to purchase or
a solicitation of acceptance of the offer to purchase, which may be
made only pursuant to the terms and conditions contained in the
offer to purchase and the related letter of transmittal.
The complete terms and conditions of the offer are set forth in
the offer to purchase and the letter of transmittal that is being
sent to holders of the notes. Holders are urged to read the
tender offer documents carefully when they become available.
Copies may be obtained from the information agent, Global
Bondholder Services Corporation, by calling toll-free at U.S.
866-470-4500, and for banks and brokers only, at U.S.
212-430-3774.
BofA Merrill Lynch and Morgan Stanley are the dealer managers
for the tender offer. Questions regarding the offer may be directed
to BofA Merrill Lynch by calling toll-free at U.S. 888-292-0070 or
collect at 980-387-3907, or to Morgan Stanley by calling toll-free
at U.S. 800-624-1808 or collect at 212-761-1057.
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
Logo -
http://photos.prnewswire.com/prnh/20120724/CG44353LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/peabody-energy-announces-cash-tender-offer-for-7-38-senior-notes-due-2016-300043439.html
SOURCE Peabody Energy