Osisko Metals shares rise on 53% resource boost at Gaspé copper project
A minimum 70,000 meter drill program is now planned for 2025.
The world’s second-largest integrated miner, Rio Tinto, raised US$3 billion through a bond issue.
Reuters reports that this bond issue may have “the perfect structure” with the overall bond markets having been beaten down in recent days.
The company’s press release from Friday broke down the terms of the financing:
Rio Tinto has priced an aggregate of US$3.0 billion of fixed and floating rate bonds.
The offering comprises US$1.0 billion of 3-year and US$1.25 billion of 5.5-year fixed rate, and US$250 million 2-year and US$500 million 3-year floating rate SEC-registered debt securities. The bonds will be issued by Rio Tinto Finance (USA) plc and will be fully and unconditionally guaranteed by Rio Tinto plc and Rio Tinto Limited.
The 3-year fixed rate notes pay a coupon of 1.375% and will mature on 17 June 2016.
The 5.5-year fixed rate notes pay a coupon of 2.250% and will mature on 14 December 2018.
The 2-year floating rate notes pay a coupon of 3-month US$ LIBOR plus 55 basis points and will mature on 19 June 2015.
The 3-year floating rate notes pay a coupon of 3-month US$ LIBOR plus 84 basis points and will mature on 17 June 2016.
BNP Paribas Securities Corp., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Credit Suisse (USA) LLC and RBS Securities Inc. acted as Joint Bookrunners.
