Freeport-McMoRan intends to redeem $1.66 billion of senior notes

By Tali Rackner

Norfolk, Va., June 23 – Freeport-McMoRan Copper & Gold Inc. and subsidiary FCX Oil & Gas Inc. plan to redeem all $1,662,500,000 of their senior notes, according to an 8-K filing with the Securities and Exchange Commission.

The following will be redeemed on July 23:

• $262.5 million of 6.125% senior notes due 2019 to be redeemed at 106.125;

• $525 million of 6.5% senior notes due 2020 to be redeemed at 106.5;

• $350 million of 6.75% senior notes due 2022 to be redeemed at 106.75; and

• $525 million of 6.875% senior notes due 2023 to be redeemed at 106.875.

Wells Fargo Bank, NA is the trustee.

Phoenix-based Freeport-McMoRan is a producer of gold, copper and molybdenum as well as a manufacturer of copper wire and bars, copper strip and cadmium copper.

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