PHOENIX (dpa-AFX) - Copper producer Freeport-McMoRan Inc. (FCX) said Monday that it has priced $3.0 billion of senior notes consisting of four tranches : $750 million aggregate principal amount of 2.30% Senior Notes due November 14, 2017, $600 million aggregate principal amount of 4.00% Senior Notes due November 14, 2021,$850 million aggregate principal amount of 4.55% Senior Notes due November 14, 2024 and $800 million aggregate principal amount of 5.40% Senior Notes due November 14, 2034.
The sale of the senior notes is expected to settle on November 14.
The company plans to use the net proceeds from the offering to repay certain of its outstanding debt.
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