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Anglo scraps US$250M debt buyback as new debt issue condition unsatisfied

Anglo American Plc on March 31 terminated the cash tender offer to buy back securities due May 2020 and September 2020 for a total of up to US$250.0 million.

The tender offer was conditional upon the issue of new notes, which has not occurred.

The offer included US$850 million in 3.625% senior securities due May 2020 and US$500 million in 4.450% senior securities due September 2020.

The outstanding amount of the senior securities stands at US$1.35 billion.

Previously, the company was accepting for repurchase a maximum of about US$968.9 million worth of April 2018, May 2018 and June 2019 notes.