Freeport-Mcmoran Inc. Announces Senior Notes Offering
August 01, 2019 at 08:11 am EDT
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Freeport-McMoRan Inc. announced that it intends to offer, subject to market and other conditions, senior notes in two tranches in an underwritten registered public offering. FCX intends to use the net proceeds from the offering and, if necessary, cash on hand or available liquidity to fund the redemption of all of its outstanding 6.875% Senior Notes due 2023 and its concurrent cash tender offers for up to $430.0 million aggregate purchase price of its 4.00% Senior Notes due 2021, 3.55% Senior Notes due 2022 and 3.875% Senior Notes due 2023 and the payment of accrued and unpaid interest, premiums, fees and expenses in connection therewith. J.P. Morgan Securities LLC, BofA Merrill Lynch, BMO Capital Markets Corp., BNP Paribas Securities Corp., Citigroup Global Markets Inc., HSBC Securities (USA) Inc., Mizuho Securities USA LLC, MUFG Securities Americas Inc., Scotia Capital (USA) Inc. and SMBC Nikko Securities America Inc. are the joint book-running managers for the offering, with J.P. Morgan Securities LLC serving as the lead book-running manager.
Freeport-McMoRan Inc. specializes in the exploration and operation of copper and gold mines located primarily in the United States, Peru, Chile, Indonesia and Congo. Net sales break down by family of products as follows:
- copper (74.6%): refined copper and copper concentrates (4.1 billion ounces sold in 2023);
- gold (14.5%): 1,713,000 ounces sold;
- molybdenum (8.4%): 1.3 billion ounces sold;
- other (2.5%).
Net sales are distributed geographically as follows: the United States (31.8%), Switzerland (17.4%), Japan (15%), Spain (5.5%), Singapore (5.1%), China (4.7%), Indonesia (3.3%), Germany (3.1%), Chile (1.9%), the United Kingdom (0.7%), and other (11.5%).
FREEPORT-MCMORAN INC. 
