Miner Rio Tinto launches $2.5 billion bond buyback
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LONDON (Reuters) - Global miner Rio Tinto (RIO.L) (RIO.AX) said on Monday it would launch a new bond buyback of up to $2.5 billion in an effort to cut debt.
The Rio Tinto mining company's logo is photographed at their annual general meeting in Sydney, Australia, May 4, 2017. REUTERS/Jason Reed
The London-listed miner said it had issued a redemption notice for $1.72 billion of its 2019 and 2020 dollar-denominated notes and a cash tender offer to buy about $781 million of its five 2021, 2022 and 2025 notes.
Reporting by Zandi Shabalala, editing by Louise Heavens