7th Jun 2016 12:23
LONDON (Alliance News) - Rio Tinto PLC, the FTSE 100 miner, on Tuesday said it has begun cash tender offers to buy back up to USD3 billion of its US dollar-denominated notes, in a move to reduce debt.
The purchase of the 2018, 2020, 2021 and 2022 US dollar-denominated notes is part of the company's efforts to manage capital and follows the completion of cash tender offers launched in April to buy USD1.5 billion of its 2017 and 2018 notes.
Rio Tinto Finance (USA) PLC and Rio Tinto Finance (USA) Ltd are making the offers to buy the securities in question.
Shares in Rio Tinto were up 0.1% at 2,018.00 pence Tuesday.
By Samuel Agini; [email protected]; @samuelagini
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