ST. LOUIS, March 5, 2015 /PRNewswire/ -- Peabody Energy
(NYSE: BTU) announced today the pricing of its offering of 10.000%
senior secured second lien notes due 2022 at an issue price of
97.566% of principal amount. Peabody intends to use the net
proceeds from the sale of the notes to fund the previously
announced 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 closing of the sale of
the notes, which is subject to market and other customary
conditions, is expected to occur on or about March 16, 2015.
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 the permitted liens and other limitations.
The notes and related guarantees are being 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