Teck Resources Limited
TSX : TCK.A
TSX : TCK.B
NYSE : TCK

Teck Resources Limited

April 27, 2009 19:31 ET

Teck Provides Update on Terms of Bank Extension

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 27, 2009) - Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) announced today, in connection with the commitment letter regarding the bridge and term loan extension announced on April 21, 2009, that the definitive documentation giving effect to the extension is expected to provide that Teck's outstanding 7% notes due 2012, 5.375% notes due 2015, and 6.125% notes due 2035 will be secured equally and ratably with the amended bridge and term loan facilities and other credit facilities of Teck. Teck expects the amended and restated bridge and term loan agreements contemplated by the commitment letter to close later this week.

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). Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur, or be achieved.

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. These forward-looking statements include statements concerning the amendments to the bridge facility and the term facility. These forward-looking statements involve numerous assumptions, risks and uncertainties and actual results may vary materially. These statements are based on a number of assumptions, including, among others, assumptions regarding the satisfaction of the conditions to the amendment of the bridge facility and the term facility. The foregoing list of assumptions is not exhaustive. Events or circumstances could cause actual results to differ materially.

Factors that may cause actual results to vary include, but are not limited to, risks relating to the settlement of definitive documentation and the fulfillment of other conditions precedent to the effectiveness of the amended bridge and term facilities and other risk factors as detailed from time to time in Teck's reports filed with Canadian securities administrators.

Certain of these risks are described in more detail in the annual information form of Teck and in its public filings with Canadian securities administrators. 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, 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
    www.teck.com