Rio Tinto Sells $2 Billion of Debt to Fund 2013 Notes Buyback
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Rio Tinto Group, the world’s third-largest mining company, sold $2 billion of bonds in a three-part offering to fund a buyback of existing notes.
Rio Tinto issued $500 million each of five- and 30-year debt and $1 billion of 10-year notes through its U.S. finance unit, in its first bond sale in 18 months, Bloomberg data show. Proceeds will fund a tender offer for its 5.875 percent notes due in July 2013, which was accepted by investors holding $1.9 billion of the securities, the company said in a filing today.