Peabody prices $225M 0.50% convertible notes due 2031; to repurchase $241.2M of 2028 notes

PEABODY ENERGY CORP

Priced $225M aggregate principal of 0.50% convertible senior notes due 2031; initial purchasers have 13-day option for additional $25M.
Initial conversion price ~$38.32/share, a 32.5% premium over May 28 VWAP of $28.9197.
Net proceeds estimated at ~$218.9M ($243.3M if greenshoe fully exercised).
Plans to use ~$15M for capped call transactions and together with available cash to repurchase ~$241.2M of 3.250% 2028 notes for ~$388.8M cash.
Capped call transactions entered to reduce potential dilution upon conversion; cap price initially $50.6095/share.

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