Rio Tinto: 76% of 5.875% notes due 2013 tendered, expiration extended

By Devika Patel

Knoxville, Tenn., Oct. 27 - Rio Tinto Finance (USA) Ltd. said holders of about $1.9 billion, or 76%, of its $2.5 billion in remaining 5.875% notes due July 15, 2013 tendered their securities as part of a cash tender offer for the notes.

The offer launched on Oct. 20 and was scheduled to expire at 9 a.m. ET on Oct. 27 but has now been extended to 9 a.m. ET on Oct. 28. The withdrawal date has not been extended from 9 a.m. ET on Oct. 27.

Morgan Stanley & Co. Inc., Credit Suisse Securities (USA) LLC, BNP Paribas Securities Corp., Credit Agricole Securities (USA) Inc., HSBC Securities (USA) Inc., ANZ Securities, Inc. and Mitsubishi UFJ Securities (USA), Inc. are the dealer managers for the offer.

The consideration for each $1,000 of tendered notes will be $1,131.97, which was calculated by the dealer managers at 2 p.m. ET on Oct. 26 by reference to a fixed spread over the yield based on the bid-side price of the U.S. Treasury Security. Holders will also receive unpaid interest up to, but excluding, the payment date.

Morgan Stanley & Co. Inc. (800 624-1808) is the global coordinator and lead dealer manager. D.F. King & Co., Inc. (888 290-6427) is the depositary and information agent.

Rio Tinto is a mining group headquartered in London.

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