Freeport-McMoRan, units to redeem all 1.4%, 7.625% notes Dec. 17

By Marisa Wong

Madison, Wis., Nov. 17 – Freeport-McMoRan Inc. will redeem on Dec. 17 all of its outstanding $500 million 1.4% senior notes due 2015, according to an 8-K filing with the Securities and Exchange Commission.

Wholly owned subsidiaries Freeport-McMoRan Oil & Gas LLC and FCX Oil & Gas Inc. will also redeem on Dec. 17 all of their outstanding $300 million 7.625% senior notes due 2020.

Each series of notes will be redeemed at a make-whole redemption price plus accrued interest to the redemption date.

U.S. Bank NA is the trustee for the 1.4% notes, and Wells Fargo Bank, NA is the trustee for the 7.625% notes.

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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