Peabody Energy Corporation Completes Debt Refinancing Transactions
03.23.15
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The Firm recently represented Peabody Energy Corporation (“Peabody”) in connection with the amendment of its existing $1.20 billion term loan facility and $1.65 billion revolving credit facility. The Firm also represented Peabody in connection with the offering of $1 billion 10% Senior Secured Second Lien Notes due 2022 and the related tender offer for its 7.375% Senior Notes due 2016 (the “2016 Notes”). Peabody intends to use the proceeds from the notes offering to fund the tender offer for the 2016 Notes, to fund the redemption of all 2016 Notes not tendered in the tender offer and for general corporate purposes, which may include the payment of its federal coal lease expenditures.
Peabody Energy is the world’s largest private-sector coal company and a global leader in sustainable mining, energy access and clean coal solutions. The company serves metallurgical and thermal coal customers in more than 25 countries on six continents.
The Simpson Thacher team for these transactions included Matthew Einbinder, Jason Hwang, Matthew Farrell and Benjamin Lubarsky (Banking and Credit); Risë Norman, Karen Wang and Johanna Mayer (Capital Markets); Adeeb Fadil and Louise Kruger (Environmental); Jeanne Annaruma and Alina Finkelshteyn (Executive Compensation and Employee Benefits); Marcela Robledo (Intellectual Property); Mardi Merjian (Real Estate); Janet Nadile and Jonathan Pall (Collateral); Ellen Smiley (PCAP); and Marcy Geller, Jonathan Cantor, Jordan Tamchin and Taylor Alexander (Tax).