Rio Tinto continues to buy back existing notes

Rio Tinto has launched a new cash tender offer for US$3 billion of its existing notes, as it continues to drive down debt levels.

The miner has commenced a cash tender offer to purchase its 2018, 2020, 2021, and 2022 US dollar-denominated notes.

It follows Rio Tinto buying back US$1.359 billion worth of 2018 and 2018 notes in April.

Rio Tinto has announced an ‘any and all offer’ for its 6.5 per cent 2018 notes and 2.25 per cent 2018 notes, and has announced a ‘maximum tender offer’ for its 3.5 per cent notes due in 2020; 4.125 per cent notes due in 2021; 3.75 per cent notes due in 2021; 3.5 per cent notes due in 2022; and its 2.875 per cent notes due in 2022.



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