Teck Announces Pricing of US$700 Million of Notes
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 8, 2010) – Teck Resources Limited (“Teck”, TSX: TCK.A and TCK.B, NYSE: TCK) voiced currently which it has labelled the formerly voiced charity of comparison unsecured notes.
Teck will emanate US$700 million in total principal volume of notes, consisting of US$500 million total principal volume of 4.500% records due 2021 (“2021 Notes”) and US$200 million total principal volume of 6.000% records due 2040 (“2040 Notes”). The 2021 Notes and the 2040 Notes being charity will be completely on trial on a comparison unsecured basement by Teck Metals Ltd., a unconditionally owned auxiliary of Teck. The charity is approaching to tighten on or about Sep 22, 2010, theme to prevalent shutting conditions.
The 2040 Notes were charity to the open at 101.832% of standard to produce 5.868% to majority and have been an one some-more distribution of, and will be combined and form a singular array with, the 6.000% records due 2040 which Teck released in Aug 2010. The 2021 Notes were charity to the open at 99.975% of standard to produce 4.500% to maturity.
Teck expects to embrace total net deduction of we estimate US$696 million from the offering, after deducting underwriting discounts and estimated charity expenses.
Teck intends to make make use of of the net deduction from this charity to to some extent account the squeeze of the 10.750% comparison cumulative records due 2019 which have been tendered and supposed for squeeze in the proposal suggest commenced on Sep 8, 2010.
J.P. Morgan Securities LLC, Banc of America Securities LLC, Citigroup Global Markets Inc. and Goldman, Sachs & Co. have been behaving as corner book-running managers for the offering.
This headlines recover shall not consecrate an suggest to sell, a questionnaire to buy or an suggest to squeeze or sell any securities. The records charity is being done pursuant to an in effect shelf registration matter in the United States and a in isolation chain in Canada. A duplicate of the handbill and associated handbill addition might be performed by on vacation the SEC’s website at www.sec.gov or by job J.P. Morgan Securities LLC at (212) 834-4533 (collect), Banc of America Securities LLC at (800) 294-1322 (toll-free) and Citigroup Global Markets Inc. at (877) 858-5407 (toll-free).
Forward-Looking Statements
This press recover contains sure forward-looking statements inside of the definition of the United States Private Securities Litigation Reform Act of 1995 and forward-looking report as tangible in the Securities Act (Ontario). The forward-looking statements in this headlines recover embody statements connected with the approaching net deduction from the charity of the notes, the shutting of the due notes, together with the timing thereof, and the dictated make make use of of of proceeds.
Forward-looking statements engage well known and opposite risks, uncertainties and alternative factors, which might means the tangible results, opening or achievements of Teck to be materially opposite from any destiny results, opening or achievements voiced or pragmatic by the forward-looking statements. Factors which might means tangible formula to change include, but have been not singular to, risks relating astonishing losses concerned in the charity of the notes, shutting of Teck’s charity of the notes, conditions in monetary markets, financier reply to Teck’s proposal offer, and alternative risk factors as minute from time to time in Teck’s reports filed with Canadian bonds administrators and the U.S. Securities and Exchange Commission. Certain of these risks have been described in some-more item in the annual report form of Teck and in the open filings with Canadian bonds administrators and the U.S. Securities and Exchange Commission. Teck does not pretence the requisite to correct or refurbish these forward-looking statements after the date of this request or to correct them to simulate the feeling of destiny amazing events, solely as might be compulsory underneath germane bonds laws.
About Teck Resources
Teck is a diversified apparatus association committed to obliged mining and vegetable growth with vital commercial operation units focused on copper, steelmaking coal, zinc and energy. Headquartered in Vancouver, Canada, the shares have been listed on the Toronto Stock Exchange underneath the black TCK.A and TCK.B and the New York Stock Exchange underneath the pitch TCK.
