PERTH (miningweekly.com) – Mining major Rio Tinto will reduce its gross debt by a further $1.5-billion under cash tender offers.
As part of the company’s ongoing capital management plan, Rio will purchase $1.5-billion worth of outstanding securities. The offer started on September 26 and will expire on October 24.
Rio in September also announced the redemption of some $1.5-billion of its 2017 and 2018 notes. The redemption date is October 26, and along with the offer, the redemption will bring the total amount of notes purchased in October to $3-billion.