trending Market Intelligence /marketintelligence/en/news-insights/trending/jJUZ67P5bBEVvU9gjmg6kA2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Rio Tinto prices cash tender offers under US$2.5B debt buyback

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Video

COVID-19 Impact & Recovery: Metals and Mining Outlook for H2 2021

Blog

Q&A: Data That Delivers - Automating the Credit Risk Workflow

Blog

Mining M&A in 2020 — Deal activity bounces back in H2 after disrupted H1


Rio Tinto prices cash tender offers under US$2.5B debt buyback

Rio Tinto on June 6 priced the cash tender offers announced in May as part of a plan to reduce debt by up to US$2.5 billion.

Rio Tinto Finance (USA) plc and Rio Tinto Finance (USA) Ltd. made cash tender offers to purchase up to about US$781 million of the outstanding securities.

Rio Tinto Finance (USA) Ltd. will pay US$1,080.05 per US$1,000 principal amount of its 4.125% notes due 2021 and US$1,066.93 per US$1,000 principal amount of 3.75% notes due 2021.

Meanwhile, Rio Tinto Finance (USA) plc will pay US$1,057.76 per US$1,000 principal amount of its 3.500% notes due 2022 and US$1,028.77 per US$1,000 principal amount of its 2.875% notes due 2022.

The offer was set to expire June 19. However, the early settlement right was exercised, pulling the settlement date to June 7.

The company had also issued a redemption notice for about US$1.72 billion of its 2019 and 2020 U.S. dollar-denominated notes. The redemption date is June 21.

The redemption along with the cash tender offer will bring the total amount of notes repurchased in June to US$2.5 billion.