Rio Tinto to Buy Back $1.359 Billion of 2017 Bonds
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Rio Tinto Group will buy back $1.359 billion of bonds as it seeks to reduce its debt load.
The world’s second largest mining company is repurchasing $339 million of 2 percent notes due next year and $1.02 billion of 1.625 percent securities that also mature in 2017, both at premiums to their face value, it said in a statement Thursday. The company said in an April 21 repurchase offer that it would buy back bonds due in 2018 to take the total to $1.5 billion.