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
8,229.99
17:14 20/09/24
n/a
n/a
FTSE 350
4,543.89
16:49 20/09/24
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FTSE All-Share
4,501.08
17:04 20/09/24
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Mining
11,503.14
16:49 20/09/24
0.18%
20.17
Rio Tinto
4,802.50p
16:40 20/09/24
-2.22%
-109.00p
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.