Freeport-McMoRan announced today that a notice has been issued to redeem on December 1, 2021, all of its outstanding $524 million aggregate principal amount of 3.55% Senior Notes due 2022 (3.55% Notes), at a redemption price equal to 100% of the principal amount of the 3.55% Notes outstanding, plus accrued and unpaid interest to, but not including, the redemption date. On October 21, 2021, U.S. Bank National Association, as trustee for the 3.55% Notes, distributed to the registered note holders written notice of the terms of this redemption.
FCX will use cash to fund the redemption. At September 30, 2021, FCX had $9.7 billion in consolidated debt and consolidated cash and cash equivalents of $7.7 billion. Annual interest costs associated with the 3.55% Notes approximate $19 million.
For full details, read the news release on FCX.com.