Wall Street Analyst Downgrade Rio Tinto Group

Rio Tinto Group [NYSE: RIO] closed the trading session at $63.00 on 11/11/21. The day’s price range saw the stock hit a low of $62.20, while the highest price level was $63.14. The company report on November 4, 2021 that Rio Tinto announces expiration and results of its offer to purchase its 3.750 per cent Notes due 2025.

Following the issuance of $1.25 billion 30-year bonds which settled on 2 November 2021, Rio Tinto Finance (USA) Limited has accepted for purchase a total of $759,948,000. This sum excludes Securities that remain subject to the guaranteed delivery procedures described in the Offer to Purchase, aggregate principal amount of notes pursuant to its offer to purchase (the “Tender Offer”) any and all of its outstanding 3.750 per cent Notes due 2025 (the “Securities”), which commenced on 28 October 2021 and expired at 5pm (New York City time) on 3 November 2021.

 In addition to funding the purchase of the Securities, the proceeds from the 30-year bonds will be used to fund the redemption of the Securities that remain outstanding following the completion of the Tender Offer. The terms and conditions of the Tender Offer are described in the offer to purchase (the “Offer to Purchase”), dated as of 28 October 2021. Capitalised terms not otherwise defined in this announcement have the meaning given to them in the Offer to Purchase.