(y) the amount by which the applicable redemption price exceeds the principal amount of the New Peabody Notes will also be due and payable as though the New Peabody Notes had been optionally redeemed on the date of such acceleration. Capitalized terms appearing in this paragraph but not defined have the meanings assigned to such terms in the New Peabody Notes Indenture.
The foregoing summary of the New Peabody Notes Indenture does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the New Peabody Notes Indenture, a copy of which is attached as Exhibit 4.2 hereto and incorporated by reference herein.
Consent Solicitation; Seventh Supplemental Indenture
Concurrently with the Exchange Offer, the Company solicited consents from holders of the Existing Notes to certain proposed amendments to the indenture governing the Existing Notes (the “Existing Indenture”) to (i) eliminate substantially all of the restrictive covenants, certain events of default applicable to the Existing Notes and certain other provisions contained in the Existing Indenture and (ii) release the collateral securing the Existing Notes and eliminate certain other related provisions contained in the Existing Indenture. The Company received the requisite consents from holders of the Existing Notes and entered into a supplemental indenture, dated as of January 8, 2021 (the “Seventh Supplemental Indenture”), by and among the Company and Wilmington Trust, National Association, as trustee, to the Existing Indenture.
The Seventh Supplemental Indenture became effective upon execution thereof by the parties thereto and became operative on January 29, 2021 (the Settlement Date).
Following the settlement of the Exchange Offer, approximately $60,308,000 aggregate principal amount of the Existing Notes remain outstanding and are governed by the Existing Indenture, as amended by the Seventh Supplemental Indenture and any further amendments or supplements thereof.
The foregoing summary of the Seventh Supplemental Indenture does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Seventh Supplemental Indenture, a copy of which is attached as Exhibit 4.3 hereto and incorporated herein by reference.
Eighth Supplemental Indenture
Concurrently with the settlement of the Exchange Offer, Peabody also entered into a supplemental indenture, dated as of January 29, 2021 (the “Eighth Supplemental Indenture”), by and among the Company and Wilmington Trust, National Association, as trustee, to the Existing Indenture. Among other things, the Eighth Supplemental Indenture amended and restated the definition of “Excluded Assets” in the Existing Indenture to effect certain conforming changes to the definition thereof.
The foregoing summary of the Eighth Supplemental Indenture does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Eighth Supplemental Indenture, a copy of which is attached as Exhibit 4.4 hereto and incorporated herein by reference.
Company Revolver Transactions
In connection with the Recapitalization Transactions, the Company restructured the revolving loans under the Company’s existing Credit Agreement (the “Existing Credit Agreement”) by (i) making a pay down of revolving loans thereunder in the aggregate amount of $10.0 million, (ii) the Co-Issuers incurring $206.0 million of term loans under a Credit Agreement, dated as of January 29, 2021 (the “New Co-Issuer Term Loan Agreement”), (iii) the Company entering into a letter of credit facility (the “New Company LC Agreement”), and (iv) the Company amending the Existing Credit Agreement (collectively, the “Revolver Transactions”).
New Co-Issuer Term Loans
On January 29, 2021, the Company entered into the New Co-Issuer Term Loan Agreement, by and among the Co-Issuers, as borrowers, the Company, as parent, JPMorgan Chase Bank, N.A., as administrative agent, and the