Rio Tinto accepts tenders for roughly 76% of 5.875% notes due 2013

By Jennifer Chiou

New York, Oct. 28 - Rio Tinto Finance (USA) Ltd. said it accepted tenders from holders of $1.913 billion, or about 76%, of its $2.5 billion of 5.875% notes due July 15, 2013.

Settlement is slated for Nov. 2.

The offer launched on Oct. 20 and expired at 9 a.m. ET on Oct. 28 after having been extended from the previous day.

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., 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. were the dealer managers for the offer.

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

Rio Tinto is a mining group headquartered in London.

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