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Rio Tinto cutting debt by US$1.5B via cash tender offer

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Rio Tinto cutting debt by US$1.5B via cash tender offer

Rio Tinto has repurchased and canceled about US$1.5 billion of its 2019, 2020, 2021 and 2022 notes under the cash tender offer announced in late September, it said Oct. 10.

The redemption includes US$528.2 million of its 3.500% notes, US$471.8 million of its 2.875% notes and US$245.7 million of its 9.000% notes.

The diversified miner also accepted for repurchase US$47.5 million of its 3.500% notes, US$82.1 million of its 4.125% notes and US$122.2 million of its 3.750% notes.

Meanwhile, the global mining giant's offer to redeem about US$1.5 billion of its 2017 and 2018 U.S.-dollar-denominated notes will remain open until Oct. 26.

Earlier in the year, the company completed US$4.5 billion in cash tender offers.