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TECK Aug 2024 49.000 call
- GlobeNewswire
Teck Announces Cash Tender Offers for up to US$1.25 Billion of Debt Securities
VANCOUVER, British Columbia, July 04, 2024 (GLOBE NEWSWIRE) -- Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) today announced the commencement of six separate offers (the “Offers”) to purchase for cash up to US$1,250,000,000 aggregate principal amount of its outstanding notes of the series listed in the table below (collectively, the “Notes”). Subject to the Maximum Purchase Condition (as defined below), the series of Notes that are purchased in the Offers will be based on
- GlobeNewswire
Teck Receives Regulatory Approval for Sale of Steelmaking Coal Business
Proceeds will go towards reducing debt, funding copper growth, and returning cash to shareholdersVANCOUVER, British Columbia, July 04, 2024 (GLOBE NEWSWIRE) -- Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) today announced that the sale of its remaining 77% interest in the steelmaking coal business, Elk Valley Resources (“EVR”), to Glencore plc (“Glencore”) has now received all necessary regulatory approvals. The transaction is now expected to close on July 11. Teck expects
- Reuters
Canada approves Glencore takeover of Teck coal unit, with conditions
(Reuters) -The Canadian government has approved Glencore's $6.93 billion acquisition of miner Teck Resources' steelmaking coal unit with strict conditions to preserve jobs, the country's industry minister said on Thursday. To secure the approval, Glencore has agreed to maintain Canadian headquarters for Elk Valley Resources (EVR) for at least 10 years, ensure a majority of the directors of EVR are Canadians, and maintain significant employment levels at EVR for no less than five years, the ministry said. In a separate statement, Teck said it would use the deal proceeds to buy back up to C$2.75 billion ($2 billion) of its Class B subordinate voting shares, reduce its debt by up to $2 billion and fund near-term copper growth.
