BTU - Peabody prices upsized $275M convertible debt offering
Peabody (NYSE:BTU) is rising 1.8% premarket Friday after the firm has priced upsized offering of $275M of 3.25% convertible senior notes due 2028 in a private offering to qualified institutional buyers. The offering size was increased from the previously announced offering size of $250M aggregate principal amount of notes. The issuance and sale of the notes is scheduled to settle on March 1, 2022 Initial purchasers granted 13-day settlement period to purchase up to an additional $45M principal amount of notes. The notes will accrue interest at a rate of 3.25% per annum, payable semi-annually in arrears on March 1 and September 1 of each year, beginning on September 1, 2022. The notes will be redeemable, in whole or in part for cash at Peabody's option at any time, and from time to time, on or after Mar.1, 2025. The company will settle conversions by paying or delivering, as applicable, cash, shares of its
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Peabody prices upsized $275M convertible debt offering