New Issue: Rio Tinto prices $1.2 billion 3.75% 10-year notes at Treasuries plus 145 bps

By Aleesia Forni

Virginia Beach, June 11 – Rio Tinto Finance (USA) plc sold $1.2 billion of 3.75% senior notes (A3/A-/) due 2025 on Thursday at Treasuries plus 145 basis points, according to a market source and a FWP filed with the Securities and Exchange Commission.

Pricing was at 99.333 to yield 3.831%.

The notes sold at the tight end of the Treasuries plus 145 bps to 150 bps price guidance.

Bookrunners are Citigroup Global Markets Inc., Deutsche Bank Securities Inc., SG Americas Securities, LLC, HSBC Securities (USA) Inc., MUFG and RBC Capital Markets, LLC.

Proceeds will be used to fund the redemption its 2.5% notes due 2016 and 2.25% notes due 2016, and for general corporate purposes.

There is a guarantee on the notes by Rio Tinto plc and Rio Tinto Ltd.

The metals and mining company is based in Melbourne and London.

Issuer:	Rio Tinto Finance (USA) plc
Guarantors:	Rio Tinto plc, Rio Tinto Ltd.
Amount:	$1.2 billion
Description:	Senior notes
Maturity:	June 15, 2025
Bookrunners:	Citigroup Global Markets Inc., Deutsche Bank Securities Inc., SG Americas Securities, LLC, HSBC Securities (USA) Inc., MUFG, RBC Capital Markets, LLC
Co-managers:	Mizuho Securities USA Inc., Scotia Capital (USA) Inc., SMBC Nikko Securities America Inc., Standard Chartered Bank
Coupon:	3.75%
Price:	99.333
Yield:	3.831%
Spread:	Treasuries plus 145 bps
Trade date:	June 11
Settlement date:	June 16
Ratings:	Moody’s: A3
	Standard & Poor’s: A-
Price guidance:	Treasuries plus 145 bps to 150 bps
Make-whole call:	Treasuries plus 25 bps prior to March 15, 2025, then callable at par

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