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Rio Tinto completes $2.5bn gross debt reduction

23 June 2017 07:09

Rio Tinto has successfully completed its bond tender and redemption exercises announced on 22 May 2017 and has reduced gross debt by a further $2.5bn.

"Since the start of 2016 we have now reduced the nominal value of our outstanding bonds from approximately $21bn to about $9.5bn," it said.

"The early redemption costs are expected to reduce underlying earnings by approximately $180m and cash flow from operating activities by approximately $260m in the first half of 2017," the company said.

"These reductions will be offset by savings in future periods."

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