Peabody Energy Announces Extension of Consent Solicitation

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Jun 11, 2014, 08:56 ET

ST. LOUIS, June 11, 2014 /PRNewswire/ -- Peabody Energy Corporation today announced that it has extended until 5:00 p.m., New York City time, on June 17, 2014 (such date and time, the "New Expiration Time"), its solicitation of consents from holders of its 4.75% Convertible Junior Subordinated Debentures due 2066 (the "convertible debentures") to amend the related indenture. This announcement has no effect on Peabody Energy's intent to pay the scheduled interest payment on the convertible debentures due June 15, 2014, which will be financed by existing cash on hand. Consents with respect to the convertible debentures may be revoked at any time prior to the earlier of (i) the New Expiration Time and (ii) the time at which the requisite consents for the convertible debentures have been received. The consent solicitation had previously been scheduled to expire on June 10, 2014. Details regarding the proposed amendments are contained in a Current Report on Form 8-K filed with the SEC on May 28, 2014.

Holders who have previously delivered consents do not need to redeliver such consents or take any other action in response to this announcement in order to consent or receive the consent payment upon the successful conclusion of the consent solicitation.

Holders are referred to the Consent Solicitation Statement, dated May 28, 2014, and the related Consent Letter for the detailed terms and conditions of the consent solicitation, all of which remain unchanged except as set forth in this release. Persons with questions regarding the consent solicitation should contact the solicitation agent, Morgan Stanley & Co. LLC, at (855) 483-0952. Requests for copies of the Consent Solicitation Statement and the related Consent Letter should be directed to the Tabulation and Information Agent, Global Bondholder Services Corporation, at (212) 430-3774 (collect) or toll-free at (866) 924-2200.

This press release is for informational purposes only and is neither an offer to sell nor a solicitation of an offer to buy any security. This press release is also not a solicitation of consents with respect to the proposed amendments or otherwise. The consent solicitation is being made solely through the Consent Solicitation Statement dated May 28, 2014 (as amended by this announcement) and related materials, copies of which will be delivered to all holders of convertible debentures. The consent solicitation is not being made to, and consents will not be accepted from or on behalf of, holders in any jurisdiction in which the making of the consent solicitation or the acceptance thereof would not be in compliance with the laws of such jurisdiction.

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. For further information, go to PeabodyEnergy.com and AdvancedEnergyForLife.com.

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SOURCE Peabody Energy