Davis Polk advised Barclays Capital Inc., BNP Paribas Securities Corp., Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and SG Americas Securities, LLC as joint bookrunners and representatives of the underwriters on an SEC-registered offering by Rio Tinto Finance (USA) Limited of $2 billion aggregate principal amount of notes guaranteed by Rio Tinto plc and Rio Tinto Limited. The offering consisted of $500 million principal amount of 2.25% notes due 2016, $1.15 billion principal amount of 3.75% notes due 2021 and a reopening in an aggregate principal amount of $350 million of its 5.20% notes due 2040, first issued on November 2, 2010.

 

Rio Tinto Finance (USA) Limited 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, Leo Borchardt and Jonathon Jackson. Partner John D. Paton and associate Adam B. Perry provided tax advice. Claire Lim and Rachel Sterling were the legal assistants on the transaction. All members of the Davis Polk team are based in the London office.