Rio Tinto to reduce gross debt by $1.5bn

Rio Tinto will reduce its gross debt by $1.5 billion under cash tender offers announced on 26 September 2016.

As part of Rio Tinto's ongoing capital management plan, Rio Tinto Finance (USA) plc and Rio Tinto Finance (USA) Limited have made cash tender offers to purchase up to approximately $1.5 billion of the outstanding securities.

The Offer, which commenced on 26 September 2016 and will expire on 24 October 2016, was oversubscribed at 5pm, New York City time, on 7 October 2016 and therefore approximately $1.5 billion of Securities will be purchased.

No Securities tendered after the above time will be accepted.

At 3:47pm: (LON:RIO) Rio Tinto PLC share price was +46p at 2722.5p