Davis Polk advised HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC, RBS Securities Inc., BNP Paribas Securities Corp., RBC Capital Markets, LLC, SG Americas Securities, LLC and Standard Chartered Bank as joint bookrunners on an SEC-registered offering by Rio Tinto Finance (USA) plc of $3 billion aggregate principal amount of notes guaranteed by Rio Tinto plc and Rio Tinto Limited. The offering consisted of $1.25 billion principal amount of 1.625% notes due 2017, $1 billion principal amount of 2.875% notes due 2022 and $750 million principal amount of 4.125% notes due 2042.
Rio Tinto Finance (USA) plc is a finance company of the Rio Tinto Group, which is a leader in finding, mining and processing the earth’s mineral resources. Major products include aluminum, copper, diamonds, energy (coal and uranium), gold, industrial minerals (borax, titanium dioxide, salt and talc) and iron ore. The Rio Tinto Group’s activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe and southern Africa.
The Davis Polk corporate team included partner Nigel D. J. Wilson and associates Won Juan Kim and Brandon Schubert. Partner John D. Paton and counsel Alon Gurfinkel provided tax advice. Rachel Sterling and Claire Lim were the legal assistants on the transaction. All members of the Davis Polk team are based in the London office.
