Peabody (BTU) Announces $2.75B Senior Unsecured Notes Offering
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Peabody Energy (NYSE: BTU) announced today that, subject to market conditions, it intends to offer $2.75 billion aggregate principal amount of senior unsecured notes due in 2018 and 2021 in a private placement to eligible purchasers.
Subject to the successful completion of this offering, Peabody intends to use the net proceeds from the sale of the notes, together with other sources of financing, to fund the acquisition of Macarthur Coal Limited and for related fees and expenses, with any remaining proceeds being used to repay part or all of any revolver borrowings associated with the acquisition or for general corporate purposes.
The notes will be general unsecured senior obligations of Peabody and will rank equally in right of payment with the company's senior indebtedness.
Subject to the successful completion of this offering, Peabody intends to use the net proceeds from the sale of the notes, together with other sources of financing, to fund the acquisition of Macarthur Coal Limited and for related fees and expenses, with any remaining proceeds being used to repay part or all of any revolver borrowings associated with the acquisition or for general corporate purposes.
The notes will be general unsecured senior obligations of Peabody and will rank equally in right of payment with the company's senior indebtedness.
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