Teck Resources (NYSE:TCK) is offering to acquire a total of $600 million of its senior secured notes, which are due 2014, with 9.75 percent interest. Part of the $600 million deal would also include 10.25 percent senior secured notes due in 2016.
Also, according to Teck, they are about to offer $750 in senior secured notes which would be due in 2017 and 2040. These notes would be part of a two-part debt offering. These notes could be offered as early as today.
The notes will be guaranteed by Teck Metals LTD. and include a rank pari passu with other senior debt of Teck.
Funding to repurchase the Notes in the Tender Offer from capital raised from the new senior senior secured notes offered.
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