https://www.miningweekly.com

Freeport-McMoRan redeems five series of senior notes

18th August 2017

By: Henry Lazenby

Creamer Media Deputy Editor: North America

     

Font size: - +

VANCOUVER (miningweekly.com) – The world’s largest publicly traded copper producer Freeport-McMoRan (FCX) has redeemed five series of senior notes with a total value of $543-million.

The Phoenix, Arizona-headquartered company advised that it had issued notices to redeem on September 18, with two series of FCX senior notes and three series of FCX Oil & Gas (FMOG) senior notes currently outstanding.

The total redemption cost for the notes is $555-million, and the multinational expects the move to save it $35-million a year in interest cost savings.

At June 30, FCX had $15.4-billion in total debt and consolidated cash of $4.7-billion. Following these note redemptions, FCX’s total debt would be about $14.8-billion.

FCX’s portfolio of assets includes the Grasberg minerals district, in Indonesia, one of the world’s largest copper and gold deposits; significant mining operations in the Americas, including the large-scale Morenci minerals district, in North America; and the Cerro Verde operation, in South America.

Edited by Samantha Herbst
Creamer Media Deputy Editor

Comments

Showroom

Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.133 0.169s - 106pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: