28th Mar 2018 18:07
LONDON (Alliance News) - Rio Tinto PLC said Wednesday it priced its loan notes offer after EUR431.6 million of notes were validly tendered for repurchase by the FTSE 100-listed miner.
Last Wednesday, Rio said it was inviting all holders outside the US of its EUR750.0 million 2.000% notes due May 2020 and its EUR500.0 million 2.875% notes due December 2024 to sell up to USD850.0 million of the notes.
Rio received EUR348.3 million validly tendered for its 2020 notes and a further 83.3 million for its 2024 notes. In total, Rio will repurchase EUR431.6 million in notes which amounts to all notes validly tendered under the offer.
For each EUR1,000 of principal held, investors will received EUR1,046.74 for the 2020 notes and EUR1,152.03 for the 2024 notes.
After the acquisition, there will be EUR401.7 million outstanding on the 2020 notes and EUR416.7 million on the 2024 notes.
Shares in Rio Tinto closed 2.2% lower at 3,521.627 pence on Wednesday.
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