12th Jun 2015 10:14
LONDON (Alliance News) - Mining giant Rio Tinto PLC Friday said it will issue USD1.20 billion of 10-year, fixed-rate bonds to repay existing debts due in 2016.
The FTSE 100-listed Anglo-Australian miner said it has priced the 10-year debt securities with a coupon of 3.75%, which is higher than the existing rate, and mature on June 15, 2025.
Rio Tinto said it could now redeem all of its outstanding notes due in 2016, which have coupons varying between 2.25% and 2.5%. The 2016 notes also totals USD1.20 billion.
Rio Tinto had said on Thursday it is assessing a potential non-cash impairment charge of about USD300 million after tax on its 68.4% stake in uranium producer Energy Resources of Australia Ltd, which has said it won't proceed with a final feasibility study of the Ranger 3 Deeps project for the time being.
Rio Tinto shares were trading flat at 2,838.50 pence per share on Friday morning.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Rio Tinto