Rio Tinto has progressed plans to reduce gross debt through the early repayment of some near term maturing debt, today pricing its Any and All Offer.
The total consideration payable in connection with the Any and All Offer by Rio Tinto Finance (USA) plc pursuant to the Offer to Purchase dated 21 April 2016 has been set at $1,006.91 for the 2.000 per cent Notes due 2017 and at $1,005.85 for the 1.625 per cent Notes due 2017, in each case per $1,000 principal amount of notes.
| Title of Security | CUSIP/ISIN | Outstanding Principal Amount | Fixed Spread (bps) | Reference US Treasury Security | Reference Yield(1) | Any and All Consider-ation(1) (2) | |
| 2.000% Notes due 2017 | 76720AAB2/ US76720AAB26 | $500,000,000 | 30 | 0.875% US Treasury Notes due 31 March 2018 | 0.844% | $1,006.91 | |
| 1.625% Notes due 2017 | 76720AAE6/ US76720AAE64 | $1,250,000,000 | 30 | 0.875% US Treasury Notes due 31 March 2018 | 0.844% | $1,005.85 |
Note:
- The Reference Yield and the Any and All Consideration for each series of the Any and All Securities was determined on 27 April 2016 at 11am, New York City time, as described in the Offer to Purchase.
- Per $1,000 principal amount of Any and All Securities validly tendered and accepted for purchase.
Capitalized terms in this announcement have the same meaning as assigned to them in the Offer to Purchase.
The Any and All Offer will expire on 27 April 2016 at 5pm, New York City time. Any and All Securities tendered in the Any and All Offer may only be withdrawn at or prior to 5pm, New York City time, on 27 April 2016, but not thereafter. These dates and times are subject, where applicable, to the right of Rio Tinto Finance (USA) plc to extend, re-open, amend, and/or terminate the Any and All Offer, subject to applicable laws.
The Any and All Offer is subject to the satisfaction of certain conditions set forth in the Offer to Purchase. If any of the conditions are not satisfied or waived by Rio Tinto Finance (USA) plc, it will not be obligated to accept for purchase, purchase or pay for, validly tendered Any and All Securities, and may terminate the Any and All Offer in each case subject to applicable laws.
Holders of Any and All Securities are advised to read carefully the Offer to Purchase for full details of and information on the procedures for participating in the Any and All Offer. Holders of Any and All Securities may access the Offer to Purchase and the form of Notice of Guaranteed Delivery (as described in the Offer to Purchase) at http://www.gbsc-usa.com/RioTinto.
The Lead Dealer Managers for the offers are Merrill Lynch, Pierce, Fenner & Smith Incorporated and RBC Capital Markets, LLC. The Co-Dealer Managers are BMO Capital Markets Corp., CIBC World Markets Corp., nabSecurities, LLC and TD Securities (USA) LLC.