Teck Resources Ltd. on Aug. 13 reported early tender results for the purchase of up to US$1.00 billion of four series of notes due 2021, 2022, 2023 and 2024.
The early tender date was Aug. 10. Each series of notes had a US$20 early tender premium.
Teck accepted for purchase all of the tendered notes due 2022 and 2023.
For the 4.750% notes due 2022, the principal amount accepted was US$470.9 million. For the 3.750% notes due 2023, the principal amount accepted was US$426.5 million.
For the 4.500% notes due 2021, US$135 million of the notes were tendered, of which the company accepted for repurchase US$102.6 million.
The Toronto-listed miner will not accept for purchase any of the 8.500% notes due 2024. Since the offer has been fully subscribed, the notes that have not been accepted for repurchase will be returned to the holders.
The offer is set to close Aug. 24.