Business
Freeport-McMoRan Announces Redemption of 3.55% Senior Notes Due 2022
PHOENIX / Oct 21, 2021 / Business Wire / Freeport-McMoRan Inc. (NYSE: FCX) announced today that a notice has been issued to redeem on December 1, 2021, all of
About this update from Freeport-mcmoran, Inc.
[{"type":"text","content":"PHOENIX / Oct 21, 2021 / Business Wire / Freeport-McMoRan Inc. (NYSE: FCX) announced today that a notice has been issued to redeem on December 1, 2021, all of its outstanding $524.0 million aggregate principal amount of 3.55% Senior Notes due 2022 (3.55% Notes), at a redemption price equal to 100% of the principal amount of the 3.55% Notes outstanding, plus accrued and unpaid interest to, but not including, the redemption date. On October 21, 2021, U.S. Bank National Association, as trustee for the 3.55% Notes, distributed to the registered note holders written notice of the terms of this redemption. FCX will use cash to fund the redemption. At September 30, 2021, FCX had $9.7 billion in consolidated debt and consolidated cash and cash equivalents of $7.7 billion. Annual interest costs associated with the 3.55% Notes approximate $19 million. FREEPORT: Foremost in Copper FCX is a leading international mining company with headquarters in Phoenix, Arizona. FCX operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum. FCX is one of the world’s largest publicly traded copper producers. FCX’s portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world’s largest copper and gold deposits; and significant mining operations in North America and South America, including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru. By supplying responsibly produced copper, FCX is proud to be a positive contributor to the world well beyond its operational boundaries. Additional information about FCX is available on FCX's website at fcx.com. Cautionary Statement Regarding Forward-Looking Statements: This press release contains forward-looking statements, which are all statements other than statements of historical facts, such as plans, projections and expectations related to the redemption. FCX cautions readers that forward-looking statements are not guarantees of future performance and actual results may differ materially from those anticipated, expected, projected or assumed in the forward-looking statements. Important factors that can cause FCX's actual results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, FCX’s ability to consummate the r...