Rio Tinto launches debt reduction program
Date: Mar 22, 2018
Rio Tinto has announced that it will launch a bond purchase and redemption plan of up to $2.25 billion equivalent to reduce gross debts as part of its ongoing capital reduction plans.
Following the completion of $10 billion in US dollar note redemptions and repurchases in 2016–17, Rio will issue roughly $1.4 billion in redemption notices via four series of US-dollar denominated notes, to be matured in 2021–2022.
The first will be for 4.125 per cent notes due on May 2021; the second for 3.75 per cent notes due September 2021; the third for 3.5 per cent notes due March 2022 ;and the fourth for 2.875 per cent notes due August 2022, all to be issued by Rio Tinto Finance (USA).