| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Tenders > Headlines for 2021 > News item |
Rio Tinto Finance tender offer results in $759.95 million purchase
By Mary-Katherine Stinson
Lexington, Ky., Nov. 4 – Rio Tinto Finance (USA) Ltd. announced it has accepted for purchase all $759,948,000 of its 3.75% notes due 2025 tendered in its any and all offer which ended at 5 p.m. ET on Nov. 3, according to a release.
This amount excludes $1,582,000 of securities that are subject to guaranteed delivery procedures and are due by 5 p.m. ET on Nov. 5.
The securities will be purchased for $1,097.32 per $1,000 security plus accrued and unpaid interest to the settlement date of Nov. 5.
Accrued interest will also be paid on the securities subject to guaranteed delivery procedures which will settle on Nov 8.
However, there will be no additional accrued interest paid from settlement to the guaranteed delivery settlement date.
All securities purchased will be retired and canceled and will no longer be outstanding.
On Nov. 3, the company also issued a notice of redemption for all securities remaining outstanding after the completion of the tender offer. The fixed redemption date will be Dec. 3.
The company will use the proceeds from a $1.25 billion 30-year bond issued Nov. 2 to fund the purchase of the securities tendered and to fund the redemption of the outstanding securities following the completion of the offer.
The trustee and paying agent for the redemption is Bank of New York Mellon.
Citigroup Global Markets Ltd. (+ 44 20 7986 8969, 800 558-3745, 212 723-6106, liabilitymanagement.europe@citi.com), Credit Agricole Securities (USA) Inc. (866 807-6030, us.liabilitymanagment@ca-cib.com) and Merrill Lynch International (+ 44 20 7996 5420, 888 292-0070, 980 387-3907, DG.LM-EMEA@bofa.com) are the lead dealer managers.
The depositary, paying and information agent for the tender offer is Global Bondholder Services Corp. (866 470-3700, 212 430-3774 or contact@gbsc-usa.com).
The mining company is based in London and Melbourne, Australia.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.