Teck Resources Limited

Teck Resources Limited

May 08, 2009 18:50 ET

Teck Bond Offering Closes

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 8, 2009) - Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) announced today that its previously announced private placement of US$4.225 billion of five, seven and ten-year senior secured notes has closed. Teck has applied the net proceeds to repay borrowings under its existing bridge credit facility, reducing the outstanding balance under the facility to US$603 million, which is due on October 30, 2011. As a consequence of the reduction in the bridge facility balance, Teck has received a rebate of approximately US$36 million in fees paid in April in connection with the bridge facility extension.

The senior secured notes have not been registered under the U.S. Securities Act of 1933, as amended, (the "Securities Act") or any state securities laws; and unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The senior secured notes are expected to be eligible for trading by qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction where such offering or sale would be unlawful.

About Teck

Teck is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, metallurgical coal, zinc, gold 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. Further information about Teck can be found at www.teck.com.

Contact Information

  • Teck Resources Limited
    Greg Waller
    Vice President, Investor Relations & Strategic Analysis
    (604) 699-4014