Global miner Rio Tinto Ltd
(ASX:RIO) is to spend around US$2.5 billion on notes.
The mining giant says Rio Tinto Finance USA is to spend up to US$2.5 billion to buy all outstanding 5.876 per cent notes due July 15, 2013.
Rio says it has retained Morgan Stanley to act as global coordinator and lead deal manager for the offer.
However, the miner says it will not accept notes from holders in countries where it is illegal to make such an offer to purchase the securities.
Just yesterday Rio announced plans to invest US$3.1 billion on expanding capacity at its operations in the Pilbara of Western Australia.
Rio Tinto reported profit of $7.36 billion for the six months to June 30, 2010.
