🕐06.10.10 - 18:54 Uhr
Teck Announces Expiration and Final Results of Tender Offer for 10.75% Notes due 2019
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Teck Resources Limited
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TCK.A
TSX:
TCK.B
NYSE:
TCK
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Recent News
October 6, 2010
Teck Announces Expiration and Final Results of Tender Offer for 10.75% Notes
due 2019
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct.
6, 2010) - Teck Resources
Limited (TSX: TCK.A and TCK.B, NYSE: TCK) announced today the expiration and
final results of the Companys tender offer to purchase for cash (the
"Tender Offer") up to an aggregate of US$1 billion principal amount of its
outstanding 10.75% senior secured notes due 2019 (the "Notes").
As of 12:00 midnight, New York City time, on October 5, 2010, the expiration
date for Tender Offer, the aggregate principal amount of Notes tendered in
the Tender Offer was approximately US$543 million, representing 29% of the
aggregate principal amount of the Notes outstanding as of the launch of the
Tender Offer.
On September 23, 2010, Teck accepted and purchased
approximately US$293 million of Notes tendered at or prior to the Tender
Offers early tender date.
Teck intends to promptly accept for purchase the
remaining Notes tendered but not previously purchased in the Tender Offer.
J.P.
Morgan Securities LLC, Banc of America Securities LLC, Citigroup Global
Markets Inc.
and Goldman, Sachs & Co.
are the Dealer Managers for the Tender
Offer.
Questions regarding the Tender Offer may be directed to J.P.
Morgan
Securities LLC Liability Management Group at (866) 834-4666 (toll-free),
Banc of America Securities LLC Debt Advisory Services at (888) 292-0070
(toll-free) and Citigroup Global Markets Inc.
Liability Management Group at
(800) 558-3745 (toll free).
Global Bondholder Services Corporation has been
retained as depositary and information agent for the tender offer.
Requests
for documents may be directed to Global Bondholder Services Corporation by
telephone at (866) 389-1500 (toll-free) or in writing at 65 Broadway - Suite
404, New York, NY 10006, Attention: Corporate Actions.
This news release shall not constitute an offer to sell, a solicitation to
buy or an offer to purchase or sell any securities.
Forward-Looking Statements
This press release contains certain forward-looking statements within the
meaning of the United States Private Securities Litigation Reform Act of
1995 and forward-looking information as defined in the Securities Act
(Ontario).
The forward-looking statements in this news release include
statements concerning the purchase of the Notes tendered in the Tender
Offer.
Forward-looking statements involve known and unknown risks, uncertainties
and other factors, which may cause the actual results, performance or
achievements of Teck to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking
statements.
Factors that may cause actual results to vary include, but are
not limited to, risks relating to conditions in financial markets and action
by courts or governments to enjoin the purchase of the remaining Notes.
About Teck Resources Limited
Teck is a diversified resource company committed to responsible mining and
mineral development with major business units focused on copper, steelmaking
coal, zinc and energy.
Headquartered in Vancouver, Canada, its shares are
listed on the Toronto Stock Exchange under the symbols TCK.A and TCK.B and
the New York Stock Exchange under the symbol TCK.
www.teck.com
CONTACT INFORMATION:
Teck Resources Limited - Investor Contact
Greg Waller
604-699-4014
or
Teck Resources Limited - Media Contact
Marcia Smith
604-699-4616
www.teck.com
INDUSTRY: Manufacturing and Production - Mining and Metals
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