Freeport-McMoRan buys back notes, prepays equipment loans

Pittsburgh, July 20 - Freeport-McMoRan Copper & Gold Inc. repurchased $9.7 million of its 6 7/8% senior notes due 2014 for $8.8 million and prepaid $66.2 million of equipment loans to reduce interest costs and improve its financial position in the second quarter, according to a company news release.

The company had $2.1 billion total debt at June 30, $1.8 billion net of about $300 million of cash, the release said.

Freeport-McMoRan is a New Orleans copper, gold and silver miner.

© 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.