DBRS gives BBB to Teck notes

DBRS said it finalized the rating of BBB with stable trend on Teck Resources Ltd.'s $1 billion of senior notes, consisting of $500 million principal amount of 3% notes due March 1, 2019 and $500 million principal amount of 5.0% notes due March 1, 2042.

The offering is expected to close on Feb. 28.

Proceeds will be used to help fund the redemption of all of the about $530 million principal amount of outstanding 9.75% senior notes due 2014 and a portion of the about $1,043 million principal amount of outstanding 10.75% senior notes due 2019.

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