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Freeport-McMoRan Copper & Gold Inc. Prices $3.0 Billion Of Senior Notes

Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) announced the pricing of $3.0 billion of senior notes. Following is a summary of the three tranches:

Description   Amount   Maturity
1.40% Senior Notes (1) $0.5 Billion

Due February 13, 2015

2.15% Senior Notes (2) $0.5 Billion

Due March 1, 2017

3.55% Senior Notes (3) $2.0 Billion

Due March 1, 2022

(1) Priced at 99.857% to yield 1.449%

(2) Priced at 99.880% to yield 2.175%

(3) Priced at 99.747% to yield 3.580%

The sale of the senior notes is expected to settle on February 13, 2012, subject to customary closing conditions. FCX intends to use the net proceeds from the offering plus cash on hand to redeem its outstanding 8.375% Senior Notes due 2017.

The joint book-running managers for the offering are J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated. Copies of the prospectus supplement relating to the offering may be obtained by calling J.P. Morgan Securities LLC collect at 1-212-834-4533 or Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at 1-800-294-1322.

A registration statement relating to the offering has been filed with the United States Securities and Exchange Commission and is effective. This press release shall not constitute an offer to sell nor an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. The offering may be made only by means of a prospectus supplement and the accompanying prospectus.

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