June 7 Rio Tinto Ltd on Wednesday
detailed pricing for a $781 million cash tender as part of its
already announced $2.5 billion bond buyback to reduce its debt.
Rio issued pricing at $1,080.05 for its 4.125 percent notes
due 2021, $1,066.93 for its 3.750 percent notes due
2021,$1,057.76 for its 3.500 percent notes due 2022 and
$1,028.77 for its 2.875 percent notes due 2022.
Investors have until June 19 to accept the
Rio cut net debt by about $4.2 billion in 2016 and said in
February it wanted to cut its debt further as it looks to ensure
it can withstand any volatility in global commodity markets.
The company also issued a redemption notice for about $1.72
billion of its 2019 and 2020 notes in May, with a redemption
date of June 21.
Rio's shares have risen 2.6 percent this year.
(Reporting by Ambar Warrick in Bengaluru; Editing by Jane
Wardell and Richard Pullin)