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DBRS gives BBB to Teck notes
DBRS said it finalized the rating of BBB with a stable trend on the $1.75 billion senior notes to be issued by Teck Resources Ltd. and to be guaranteed by its wholly owned subsidiary Teck Metals Ltd.
The issue will consist of $500 million principal amount of 2.50% notes due Feb. 1, 2018, $750 million principal amount of 3.75% notes due Feb. 1, 2023 and $500 million principal amount of 5.40% notes due Feb. 1, 2043.
Proceeds will be used to fund the redemption or repayment of debt, with any remainder to be used for general corporate purposes.
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