VANCOUVER – Teck Resources has priced its previously announced offering of senior notes. The company will issue US$1.75 billion in aggregate principal amount of the notes. They will consist of US$500 million 2.50% notes due in 2018, US$750 million 3.75% notes due in 2023, and US$500 million 5.4% notes due in 2043.
Teck intends to use the net proceeds (US$1.73 billion) and cash on hand to redeem all of its outstanding 10.25% senior notes due in 2016 in Q3 2012. Certain amounts will also be used for general corporate purposes including the retirement or redemption of other notes with due dates of 2012 and 2019.
Teck has coal, copper, zinc and energy businesses throughout the Americas. See a map at Teck.com.
Comments