Freeport-McMoRan Inc. announced that notices have been issued to redeem on December 11, 2017, $617 million aggregate principal amount of Freeport-McMoRan Inc. (FCX) and Freeport-McMoRan Oil & Gas LLC (FMOG) senior notes. In accordance with the terms of respective indentures governing the notes, together with accrued and unpaid interest on the notes redeemed to, but not including, the redemption date. The aggregate cash interest cost savings would approximate $40 million per annum. FCX expects to record a gain to net income of approximately $15 million in the fourth quarter of 2017 in connection with the redemptions. On November 9, 2017, U.S. Bank National Association, as trustee for the FCX senior notes, and Wells Fargo Bank, N.A., as trustee for the FMOG senior notes, distributed to the registered note holders written notice of the terms of these redemptions.