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Freeport-McMoRan to redeem all $524 million 3.55% notes Dec. 1
By Mary-Katherine Stinson
Lexington, Ky., Oct. 21 – Freeport-McMoRan Inc. delivered a notice on Thursday to registered noteholders that it will redeem all its outstanding $524 million 3.55% senior notes due 2022 on Dec. 1, according to a notice.
The company will use cash to fund the redemption.
The redemption will be at par plus accrued interest to the redemption date.
U.S. Bank NA is the trustee for the notes.
As of Sept. 30, the company had $9.7 billion in consolidated debt and $7.7 billion in cash and cash equivalents.
The annual interest on the 2022 notes is approximately $19 billion.
Freeport-McMoRan is a Phoenix, Ariz.-based international mining company.
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