https://www.miningweekly.com

Rio moves to repurchase notes

22nd April 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Mining major Rio Tinto on Friday launched cash tender offers for some $1.5-billion of its 2017 and 2018 notes.

The miner told shareholders that it was using its strong liquidity position to reduce gross debt through the early repayment of some near-marturing debt.

Subject to a number of conditions, Rio would spend capital to repurchase some $1.75-billion of notes due in 2017, and with any cash remaining, would move to purchase some of the $3-billion in notes due in 2018.

The tender period was expected to close in May.

Edited by Creamer Media Reporter

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