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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.

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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.

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