Freeport-McMoRan prices $350 million notes
Thursday, January 29 2004 - 03:25 PM WIB
New Orleans-based copper and gold miner Freeport-McMoRan Copper & Gold Inc. announced Thursday that it has priced US$350 million of senior notes due 2014.
The senior notes have an interest rate of 6 7/8% per year. The offering will generate net proceeds of approximately $344 million, which FCX will use to repay certain Atlantic Copper borrowings, provide funding for its 2004 debt maturities and for other corporate purposes, including additions to working capital and possible additional repayments of debt.
The transaction is expected to settle on February 3, 2004.(alex)