Freeport-McMoRan announces $6b Senior Notes offering

Freeport-McMoRan Copper & Gold Inc. (FCX) announced Thursday that it would offer a total of US$6 billion aggregate principal amount of senior notes to the public in two tranches. The first tranche will be 8-year senior notes and the second tranche will be 10-year senior notes.

FCX intends to use the net proceeds from the offering to fund a portion of the Phelps Dodge Corporation acquisition consideration and pay related fees and expenses, the company said. The closing of this offering is conditioned on the Phelps Dodge acquisition, which would be decided on a special meeting of stockholders on March 14, 2007.(alex)