Teck Resources Term Debt for Fording Acquisition
Teck Resources (NYSE: TCK) Chief Executive Officer, Don Lindsay, said recently that the term debt taken on with the acquisition of Fording Canadian Coal Trust is almost paid off, and expects it to be fully paid down very soon.
The original term loan was for $9.8 billion for the short-term debt, and as of the early part of March, 2010, there was only $800 million left to pay, which seems to signify it could be paid off in a couple of months at the longest.
Once it is paid off Lindsay hinted they may seriously consider reinstating a dividend to shareholders.
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