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Teck Resources Closes $1.25 Billion Notes Offering
- Client News
- June 8, 2016
Paul, Weiss advised Teck Resources Limited, a Canadian
diversified resource company with major business units focused on
copper, steelmaking coal, zinc and energy, in connection with its
issuance of $650 million aggregate principal amount of 8.000% notes
due 2021 and $600 million aggregate principal amount of 8.500%
notes due 2024. The notes are unconditionally guaranteed on a
senior unsecured basis by certain wholly owned subsidiaries of
Teck. Teck applied all of the net proceeds from the offering to
fund its cash tender offers for up to $1.25 billon aggregate
principal amount of its 3.150% notes due 2017, 3.850% notes due
2017, 2.500% notes due 2018 and 3.000% notes due 2019. J.P. Morgan
Securities LLC, Goldman, Sachs & Co. and Merrill Lynch, Pierce,
Fenner & Smith Incorporated acted as joint bookrunning managers
for the offering and as dealer managers for the tender
offers.
The Paul, Weiss team advising Teck included corporate partners Edwin
Maynard and Christopher Cummings and
counsel Stephen Centa; tax partner David
Sicular; and environmental counsel William O'Brien.