Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) announced today the redemption price of $1,083.45 per $1,000 principal amount of its 8.375% Senior Notes due 2017 (“Notes”). The redemption price represents the principal amount together with the make-whole premium plus accrued and unpaid interest from October 1, 2011 to, but excluding, the redemption date. As previously announced on February 13, 2012, the Notes will be redeemed on March 14, 2012.
The aggregate principal amount of Notes currently outstanding is approximately $3 billion. FCX expects to record an approximate $147 million charge to net income in the first quarter of 2012 in connection with the redemption. The Bank of New York Mellon Trust Company, N.A., as trustee, previously distributed to the registered note holder written notice of the redemption on February 13, 2012.
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 has a dynamic portfolio of operating, expansion and growth projects in the copper industry and is the world’s largest producer of molybdenum.
The company’s portfolio of assets includes the Grasberg minerals
district in Indonesia, the world’s largest copper and gold mine in terms
of recoverable reserves; significant mining operations in the Americas,
including the large scale Morenci minerals district in North America and
the Cerro Verde and El Abra operations in South America; and the Tenke
Fungurume minerals district in the Democratic Republic of Congo.
Additional information about FCX is available on FCX's website at “
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV