Stocks_Spot
Sep 22, 5:58 PM
$BTU is increasingly a balance-sheet and execution story for me. On Sept. 16, Peabody said it will redeem all remaining 3.25% convertible notes due 2028 on Nov. 18. Noteholders can convert before then, and the company expects substantially all of them to do so. Cleaning up the old notes simplifies the capital structure, although conversions can still matter for the share count in the near term.
Coal fundamentals also remain worth watching, with nearly 40% of India’s coal plants recently reporting critically low inventories. Next focus: the Centurion ramp-up and Q3 cash generation.
Not financial advice. Do your own research.
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