Freeport-McMoRan bought back $196 million senior notes in quarter

By Jennifer Chiou

New York, Jan. 21 - Freeport-McMoRan Copper & Gold Inc. announced the repayment of $196 million of its senior notes through open-market purchases during the fourth quarter of 2009.

In particular, the company made $75 million of purchases of its 8¼% senior notes due 2015 from Jan. 1 through Wednesday.

The company added that it will consider additional opportunities to prepay debt in advance of scheduled maturities.

On Oct. 21, the company said it repaid $638 million of debt through the redemption of its 6 7/8% senior notes due 2014 and open-market purchases of the 8¼% notes and 8 3/8% senior notes due 2017 at a cost of $672 million between July 1, 2008 and Oct. 20.

The mining company has headquarters in Phoenix.

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