Teck Resources Limited

Teck Resources Limited

October 19, 2012 16:23 ET

Teck Announces Redemption of Notes

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 19, 2012) - Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) ("Teck") announced today that it has issued a notice of redemption to redeem, on November 19, 2012, all of the approximately US$521.3 million principal amount of its outstanding 10.75% senior notes due 2019 ("2019 notes").

Teck expects, based on current interest rates, to record an estimated net after-tax accounting charge of approximately US$259 million in the fourth quarter of 2012 in connection with the redemption of the 2019 notes. The Bank of New York Mellon, as trustee, has distributed the notice of redemption to registered holders of the 2019 notes. 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 size and timing of the accounting charge related to the redemption.

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, future U.S. Treasury rates, volatility in interest rates and exchange rates. Teck does not assume the obligation to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

About Teck

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.

Contact Information

  • Teck Resources Limited - Media Contact
    Marcia Smith
    Senior Vice President, Sustainability and External Affairs

    Teck Resources Limited - Investor Contact
    Greg Waller
    Vice President, Investor Relations and Strategic Analysis