Freeport-McMoRan Copper & Gold Inc. Prices $3.0 Billion of Senior Notes
Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) announced the pricing of
$3.0 billion of senior notes. Following is a summary of the three
tranches:
| Description | ? | Amount | ? | Maturity |
1.40% Senior Notes (1) | $0.5 Billion |
| ||
2.15% Senior Notes (2) | $0.5 Billion |
| ||
3.55% Senior Notes (3) | $2.0 Billion |
|
(1) Priced at 99.857% to yield 1.449%
(2) Priced at 99.880% to yield 2.175%
(3) Priced at 99.747% to yield 3.580%
The sale of the senior notes is expected to settle on February 13, 2012,
subject to customary closing conditions. FCX intends to use the net
proceeds from the offering plus cash on hand to redeem its outstanding
8.375% Senior Notes due 2017.
The joint book-running managers for the offering are J.P. Morgan
Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated.
Copies of the prospectus supplement relating to the offering may be
obtained by calling J.P. Morgan Securities LLC collect at 1-212-834-4533
or Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at
1-800-294-1322.
A registration statement relating to the offering has been filed with
the United States Securities and Exchange Commission and is effective.
This press release shall not constitute an offer to sell nor an offer to
buy any securities and shall not constitute an offer, solicitation or
sale in any jurisdiction in which such offer, solicitation or sale would
be unlawful. The offering may be made only by means of a prospectus
supplement and the accompanying prospectus.
FCX is a leading international mining company with headquarters in
Phoenix, Arizona. FCX operates large, long-lived, geographically diverse
assets with significant proven and probable reserves of copper, gold and
molybdenum. FCX has a dynamic portfolio of operating, expansion and
growth projects in the copper industry and is the world′s largest
producer of molybdenum.
The company′s portfolio of assets includes the Grasberg minerals
district in Indonesia, the world′s largest copper and gold mine in terms
of recoverable reserves; significant mining operations in the Americas,
including the large scale Morenci minerals district in North America and
the Cerro Verde and El Abra operations in South America; and the Tenke
Fungurume minerals district in the Democratic Republic of Congo.
Freeport-McMoRan Copper & Gold Inc.
Financial Contacts:
Kathleen
L. Quirk, 602-366-8016
or
David P. Joint, 504-582-4203
or
Media
Contact:
Eric E. Kinneberg, 602-366-7994
