Peabody Energy Corp. plans to sell $900 million of senior secured notes due 2026 to repurchase outstanding securities, subject to market and other conditions.
The company plans to use all or a portion of the net proceeds, together with cash on hand, to purchase approximately $495.3 million of its outstanding 6.000% senior secured notes due 2022, and approximately $481.0 million of its outstanding 6.375% senior secured notes due 2025.
Any remaining proceeds, together with cash on hand, will be used to redeem remaining 2022 notes, according to a Form 8-K filed Sept. 16.
