This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

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

Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) announced today that it has completed the sale of $3.0 billion of senior notes. The offering generated net proceeds of approximately $2.97 billion, which FCX expects to use plus cash on hand to redeem its outstanding 8.375% Senior Notes due 2017. Annual interest cost savings associated with the refinancing will total approximately $160 million.

Following is a summary of the three new tranches of debt, which will have an aggregate weighted interest cost of approximately 3.0%:

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%

 




1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,010.68 -115.44 -0.64%
S&P 500 2,107.39 -13.40 -0.63%
NASDAQ 5,070.0260 -27.95 -0.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs