ST. LOUIS – Peabody (NYSE:BTU) announced the pricing of $225 million in convertible senior notes due 2031 in a private offering to qualified institutional buyers.
The notes carry a 0.50% interest rate and are scheduled to settle on June 2, 2026. Peabody granted initial purchasers an option to buy an additional $25 million in notes.
The notes will mature on June 1, 2031. The initial conversion rate is 26.0970 shares per $1,000 principal amount.
Peabody intends to use the net proceeds to repurchase outstanding convertible notes due 2028.
