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
8,060.61
15:45 15/11/24
n/a
n/a
FTSE 350
4,453.56
15:45 15/11/24
n/a
n/a
FTSE All-Share
4,411.85
15:45 15/11/24
n/a
n/a
Mining
10,633.77
15:45 15/11/24
1.51%
158.40
Rio Tinto
4,804.50p
15:45 15/11/24
1.46%
69.00p
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.