Loan & DebtMay 28, 2026, 07:01 AM
Peabody Energy Announces Proposed $225M Convertible Senior Notes Offering
AI Summary
Peabody Energy Corporation announced its intention to offer $225 million aggregate principal amount of Convertible Senior Notes due 2031 in a private offering to qualified institutional buyers. The company also expects to grant initial purchasers an option for an additional $25 million. Proceeds will be used to fund capped call transactions, repurchase a portion of its outstanding 3.250% Convertible Senior Notes due 2028, and for general corporate purposes. The notes will be senior, unsecured obligations maturing on June 1, 2031, with conversion rights.
Key Highlights
- Peabody Energy announced a proposed private offering of $225 million aggregate principal amount of Convertible Senior Notes due 2031.
- Initial purchasers will have an option to buy up to an additional $25 million principal amount of notes.
- The notes will be senior, unsecured obligations and will mature on June 1, 2031.
- Proceeds will fund capped call transactions and repurchase a portion of 3.250% Convertible Senior Notes due 2028.
- Any remaining net proceeds will be used for general corporate purposes.
- The offering is private, targeting qualified institutional buyers under Rule 144A.
Price Impact
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