Press Release

Kirkland Counsels Discovery Capital on Peabody’s Launch of Secondary Offering, Repurchase of Common Stock

Kirkland & Ellis LLP represented Discovery Capital Management, LLC and certain of its affiliates as selling stockholders of 12,800,000 shares of common stock in Peabody Energy Corp., a large private-sector coal company, to Credit Suisse Securities (USA) LLC as underwriter in an underwritten secondary offering for proceeds of approximately $346.9 million. The common stock being offered had previously been issued by Peabody Energy Corp. in connection with its emergence from Chapter 11 on April 3, 2017 and in subsequent conversions of preferred stock. In connection with the offering, Peabody repurchased from Credit Suisse 1,476,014 of the offered shares having an aggregate value of approximately $40 million.

The Kirkland team was led by capital markets partner Justin Hoffman and associate Christopher Fox; and tax partner Mark Dundon.