POST Online Media Lite Edition



 

Rio Tinto to reduce debt by up to $2.5 billion

Staff Writer |
Rio Tinto will use its strong liquidity position to further reduce gross debt, today launching a bond purchase plan for up to $2.5 billion.

Article continues below






Under the plan, Rio Tinto has issued a redemption notice for approximately $1.72 billion of its 2019 and 2020 U.S. dollar-denominated notes and commenced cash tender offers to purchase up to approximately $781 million of its five 2021, 2022 and 2025 U.S. dollar-denominated notes.

This announcement is part of the Rio Tinto Group’s ongoing capital management plan and follows the successful completion of a series of $7.5 billion U.S. dollar-denominated note redemptions and repurchases in 2016.


What to read next

Rio Tinto to buy back $1.36 billion in debt
Rio Tinto $781 million notes buyback oversubscribed
Rio Tinto launches cash tender offers targeting $1.5bn