Anglo American PLC's recently announced cash tender offer to repurchase 2019, 2020 and 2021 notes closed undersubscribed.
The mining giant said March 15 that it received valid acceptances for €590.8 million of the notes, significantly below its €1.67 billion target.
The offer included €750.0 million of 2.750% notes due June 7, 2019, €600.0 million of 1.50% notes due April 1, 2020, €600.0 million of 2.875% notes due Nov. 20, 2020, and €750.0 million of 2.50% notes due April 29, 2021.
Anglo American will pay 103.605% of the value for each US$1,000 principal amount of June 2019 notes plus 2.14726% interest and will pay 103.053% for each April 2020 note with 1.44658% interest.
Holders of the November 2020 notes will receive 107.598% of the value for each US$1,000 principal amount of notes with 0.93733 interest and 107.340% on each April 2021 note with 2.21918% interest.
Settlement is expected March 19.
Anglo American CEO Mark Cutifani recently said the company's sustainability drive is expected to earn it an additional US$9 billion through 2030 by improving mining methods and relations with governments as well as the communities where it operates.
