The Offer will expire at 5:00 p.m., New York City time, on March 12, 2021, unless extended or earlier terminated by Peabody (the "Expiration Time"). Subject to the Maximum Tender Amount, for each $1,000 accreted value of 2024 Notes validly tendered (and not validly withdrawn) prior to the Expiration Time and accepted by Peabody, holders of 2024 Notes will receive $800.00 in cash, plus accrued and unpaid interest as set forth in the indenture for the 2024 Notes, to, but excluding, the settlement date. Tendered 2024 Notes may be validly withdrawn at any time prior to the Expiration Time, unless extended or earlier terminated by Peabody. The settlement date is currently expected to be the second business day following the Expiration Time.
If the aggregate accreted value of the 2024 Notes tendered in the Offer exceeds $22.5 million in aggregate accreted value, Peabody will select the Notes, subject to the applicable procedures of the Depository Trust Company, to be purchased on a pro rata basis with such adjustments as needed so that no 2024 Notes in an unauthorized denomination are purchased in part based on the aggregate accreted value of the 2024 Notes tendered.
The 2024 Notes are governed by an indenture, dated as of January 29, 2021, by and among Peabody, the guarantors party thereto (the "Guarantors") and Wilmington Trust, National Association, as trustee (the "Trustee") (as amended and restated by the First Supplemental Indenture, dated as of February 3, 2021, among Peabody, the Guarantors and the Trustee, and as further amended, supplemented, restated or otherwise modified to the date hereof, the "Indenture"). Under the terms of the Indenture, within 15 days of the settlement date of Peabody's previously-completed exchange offer (the "Exchange Offer"), Peabody is obligated to offer to purchase for cash an aggregate accreted value of up to the Maximum Tender Amount of its outstanding 2024 Notes at the price described above. The Exchange Offer settled on January 29, 2021.
None of Peabody, its board of directors (or any committee thereof), Wilmington Trust, National Association, the depositary for the Offer, or the Trustee or their respective affiliates is making any recommendation as to whether or not holders should tender all or any portion of their 2024 Notes in the Offer.
This announcement is not an offer to purchase or sell, or a solicitation of an offer to purchase or sell any securities. The Offer is being made solely by the Offer to Purchase. The Offer is not being made to holders of 2024 Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.