Peabody Energy (BTU) Plans $225 Million Convertible Notes Offering, With $25 Million Option

Peabody Energy Corporation (NYSE: BTU) announced on May 28, 2026, plans to offer $225 million in convertible senior notes due 2031 through a private placement. Initial purchasers will receive a 13-day option to acquire up to an additional $25 million in notes, the company said. The notes will accrue interest payable semiannually and mature on June 1, 2031, unless earlier converted, redeemed, or repurchased. Peabody will settle conversions in cash, common stock, or a combination at its election. Specific terms, including the interest rate and conversion price, are expected to be set upon pricing. Net proceeds are earmarked to repay outstanding indebtedness, including potentially redeeming a portion of its 8.500% senior secured notes due 2024, and for general corporate purposes, which may include share repurchases. The offering is anticipated to close around June 3, 2026, subject to standard closing conditions. The notes are being offered only to qualified institutional buyers.