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Peabody announces private offering of $900M of senior secured notes

|About: Peabody Energy Corporation (BTU)|By:, SA News Editor

Peabody (NYSE:BTU) intends to offer and sell to eligible purchasers $900M of senior secured notes due 2026.

The company intends to use all or a portion of the net proceeds of the sale of the Notes, together with cash on hand, to purchase ~$495.3M of its outstanding 6.000% Senior Secured Notes due 2022 and ~$481M of its outstanding 6.375% Senior Secured Notes due 2025 and the remaining proceeds together with cash on hand, to redeem any remaining 2022 Notes.

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