5th May 2016 16:54
LONDON (Alliance News) - Rio Tinto PLC on Thursday said it priced its Dutch auction offer under its plan to reduce gross debt by USD1.5 billion through the early repayment of some near-term maturing debt.
The total payable in connection with the Dutch auction offer by Rio Tinto Finance (USA) Ltd has been set at USD1,104.17 for its 6.500% notes due 2018 and the Dutch auction total consideration payable by Rio Tinto Finance (USA) PLC at USD1,015.01 for its 2.250% notes due 2018, in each case per USD1,000 principal amount of notes.
The Dutch auction offer was oversubscribed at 1700, New York City time, on Wednesday, and therefore no Dutch auction securities tendered after that time will be accepted. The Dutch auction offer will expire on May 18 at 23:59 New York City time.
Shares in Rio Tinto closed up 0.5% at 2,112.97 pence Thursday in London.
By Samuel Agini; [email protected]; @samuelagini
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