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Peabody offers to buy $51.18 million of 10% notes from cash flow
Chicago, Feb. 10 – Peabody Energy Corp.’s subsidiaries PIC AU Holdings LLC and PIC AU Holdings Corp. are offering to purchase up to $51.179 million total principal amount of 10% senior secured notes due 2024 from excess cash flow, according to a press release.
The offer is to purchase the notes for cash at par plus interest to the settlement date.
The amount represents a pro rata portion of excess cash flow with another portion to be applied to a concurrent debt repurchase of priority lien debt under a credit agreement from Jan. 29, 2021 with Wilmington Trust, NA as administrative agent.
The offer for the notes expires at 5 p.m. ET on March 14.
Settlement is planned for two business days after the expiration time.
Tenders may be subject to proration.
Wilmington Trust, NA is the trustee.
Peabody is a St. Louis-based private sector coal company.
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