Richard C. Adkerson,President and Chief Executive Officer of Freeport-McMoRan Copper & Gold, Inc. (FCX).
Freeport-McMoRan Completes Sale of $3.0 Billion of Senior Notes
PHOENIX, AZ – Freeport-McMoRan Inc. (NYSE: FCX) announced today that it has completed the sale of $3.0 billion of senior notes. FCX intends to use the net proceeds from this offering to repay certain of its outstanding debt.
Following is a summary of the four new tranches of debt, which will have an aggregate weighted interest cost of approximately 4.1%:
| Description | Amount | Maturity |
| 2.30% Senior Notes (1) | $750 Million | Due November 14, 2017 |
| 4.00% Senior Notes (2) | $600 Million | Due November 14, 2021 |
| 4.55% Senior Notes (3) | $850 Million | Due November 14, 2024 |
| 5.40% Senior Notes (4) | $800 Million | Due November 14, 2034 |
(1) Priced at 99.934% to yield2.323%
(2) Priced at 99.619% to yield 4.()63%
(3) Priced at99.905% to yield4.562%
(4) Priced at 99.516% to yield5.440%
The joint book-running managers for the offering are Citigroup Global Markets Inc., J.P. Morgan Securities LLC, and Merrill Lynch, Pierce, Fenner & Smith Incorporated.
FCX is a premier U.S.-based natural resources company with an industry-leading global portfolio of mineral assets, significant oil and gas resources and a growing production profile. FCX is the world’s largest publicly traded copper producer.