Global miner Rio Tinto Ltd
(ASX:RIO) has bought back US $1.132 billion of its 5.875% coupon notes for maturity 2013.
The purchase has been funded by the sale $US2 billion of fixed rate bonds marking Rio’s return to the high-grade American corporate bond market from mid 2009.
Rio Tinto priced US$500 million of five-year notes at 1.875%, US$1 billion of 10 year bonds at 3.5% and US$500 million of 30 year bonds at 5.2%, all SEC registered securities, with the bonds issued by Rio Tinto Finance (USA).
Rio Tinto booked a $7.36 billion profit in the six months to 30 June 2010.
