February 25, 2022
Peabody, a leading coal producer, has announced the pricing of its offering of US$275,000,000 aggregate principal amount of 3.25% convertible senior notes due 2028 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. The offering size was increased from the previously announced offering size of US$250,000,000 aggregate principal amount of notes. The issuance and sale of the notes is scheduled to settle on March 1, 2022, subject to customary closing conditions. Peabody also granted the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional US$45,000,000 principal amount of notes.
Latham & Watkins LLP represents the initial purchasers in the offering with a capital markets deal team led by New York/Los Angeles partner Greg Rodgers and New York partner Senet Bischoff, with New York associates Andrew Blumenthal, Brian Yoon, Adam Picker, and Daphne Lambadariou. Advice was also provided on tax matters by New York partner Elena Romanova, with New York associate Michael Syku; and on environmental matters by New York partner Gary Gengel and New York counsel David Langer, with New York associate Victoria Cappucci.