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Rio Tinto plc Message Board

  • makersofthemselves makersofthemselves Aug 30, 2007 1:12 PM Flag

    RTP digesting acquistion

    Rio Tinto Gets $40B Loan Syndication
    Thursday August 30, 10:00 am ET
    Rio Tinto Completes $40 Billion Loan Syndication to Finance Alcan Acquisition


    NEW YORK (AP) -- Mining company Rio Tinto PLC said Thursday it completed the syndication of a $40 billion term loan and revolving credit facilities to finance its $38.1 billion acquisition of Alcan Inc.
    Rio Tinto offered to buy the Canadian aluminum company last month for $101 per share in a friendly takeover that topped a hostile bid by U.S.-based Alcoa. The transaction's enterprise value is approximately $44 billion.

    Rio said the syndication garnered strong support despite recent credit quality concerns and was more than one-third oversubscribed.

    Shares of Rio Tinto fell $5.05 to $262.21.

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