Freeport-McMoRan offers US$525 million bonds to repay debts
Thursday, August 2 2001 - 04:59 PM WIB
US based Freeport McMoRan Copper & Gold Inc. (FCX) the New Orleans-based copper and gold producer, sold $525 million of four and one-half year convertible notes in the 144a private placement market, according to the company?s release Thursday.
The size of the deal was increased to $525 million from the originally planned issue of US$300 million.
Net proceeds of the offering will be used to repay a portion of FCX's borrowings under its existing bank credit facilities
Freeport-McMoRan through its subsidiary PT Freeport Indonesia runs a giant copper and gold mine in Irian Jaya province. (alex)