The announced note offerings of Tech Resources Limited (NYSE:TCK), which in the case of one offering was $300 million aggregate principal amount of 3.85% notes due 2017, and the other offering 450 million aggregate principal amount of 6.00% notes due 2040, has been closed today.
In a press release the company stated, "As a consequence of the closing of the notes offering, Teck expects to promptly accept for purchase 45.63%, or approximately US$434.6 million aggregate principal amount, of its 9.75% senior secured notes due 2014 that were tendered at or prior to the early tender date for its concurrent tender offer for its 9.75% senior secured notes due 2014 and 10.25% senior secured notes due 2016, which commenced on August 3, 2010."
Teck was up to $34.75, gaining $2.39, or 7.39 percent, at 3:46 PM EDT Tuesday.
No comments:
Post a Comment