(Reuters) - Major minor Rio Tinto on Monday announced a bond buyback plan for up to US$3bn, saying it was taking advantage of its healthy cash situation to further reduce debt.
Under the plan Rio Tinto has issued a redemption notice for approximately US$1.5bn of its 2017 and 2018 US dollar-denominated notes.
It said it commenced cash tender offers to purchase up to approximately US$1.5bn of its 2019, 2020, 2021 and 2022 US dollar-denominated notes.
Reporting by Barbara Lewis
