Peabody (NYSE: BTU) sells $250M 0.50% convertible notes due 2031
Peabody Energy Corporation has completed a private offering of $250 million aggregate principal amount of 0.50% Convertible Senior Notes due 2031, generating approximately $243.3 million in net proceeds. The company plans to use these proceeds, along with available cash, to repurchase about $241.2 million of its existing 3.250% Convertible Senior Notes due 2028. This strategic move aims to refinance its convertible debt, extend maturity, and lower the coupon rate, while also implementing capped call transactions to mitigate potential dilution.
https://www.stocktitan.net/sec-filings/BTU/8-k-peabody-energy-corp-reports-material-event-ff23bae1bd35.html