Rio Tinto launches $3bn bond buyback
Rio Tinto has launched a $3bn bond-buyback plan as the miner looks to use its put its cash to use.
FTSE 100
8,097.69
13:00 25/04/24
n/a
n/a
FTSE 350
4,447.22
13:00 25/04/24
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FTSE All-Share
4,400.79
13:00 25/04/24
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Mining
10,487.63
12:59 25/04/24
-0.31%
-32.64
Rio Tinto
5,407.00p
13:00 25/04/24
-0.79%
-43.00p
Following its $4.5bn buybacks earlier in 2016, Rio Tinto has offered for redemption roughly $1.5bn of its 2017 and 2018 US dollar-denominated notes and begun cash tender offers to purchase up to approximately $1.5bn of its 2019, 2020, 2021 and 2022 notes.
In April, the FTSE 100 group bought $1.5bn of its 2017 and 2018 notes and in June purchased $3bn of its 2018, 2020, 2021 and 2022 notes.