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June 7 (Reuters) - Rio Tinto (LON:RIO) Ltd RIO.AX on Wednesday detailed pricing for a $781 million cash tender as part of its already announced $2.5 billion bond buyback to reduce its debt.
Rio issued pricing at $1,080.05 for its 4.125 percent notes due 2021, $1,066.93 for its 3.750 percent notes due 2021,$1,057.76 for its 3.500 percent notes due 2022 and $1,028.77 for its 2.875 percent notes due 2022.
Investors have until June 19 to accept the offer. cut net debt by about $4.2 billion in 2016 and said in February it wanted to cut its debt further as it looks to ensure it can withstand any volatility in global commodity markets. company also issued a redemption notice for about $1.72 billion of its 2019 and 2020 notes in May, with a redemption date of June 21.
Rio's shares have risen 2.6 percent this year.