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Rio Tinto won't issue stock to refinance debt
- Source :
- Wall Street Journal. Europe. Nov 27, 2008, A4
- Publication Year :
- 2008
-
Abstract
- Mining company Rio Tinto Ltd.'s chairman Paul Skinner states his company is not planning to issue stock to pay down a medium-term loan of US$9 billion maturing in late 2009. The company has a current debt of about US$42 billion. Mr. Skinner discusses Rio Tinto's financial standing and dismisses speculation Rio Tinto is planning to sell a stake in the company. Rio Tinto's shares dropped 34% to 42.01 Australian dollars on the Australian Stock Exchange in Wednesday trading.
- Subjects :
- Rio Tinto Ltd. -- Finance
Rio Tinto Ltd. -- Planning
Rio Tinto Ltd. -- Securities
Rio Tinto Ltd. -- Company forecasts
Mining industry
Mineral industry
Company financing
Company business planning
Company securities
Company business forecast/projection
Banking, finance and accounting industries
Business
Business, international
Subjects
Details
- Language :
- English
- ISSN :
- 09219986
- Database :
- Gale General OneFile
- Journal :
- Wall Street Journal. Europe
- Publication Type :
- News
- Accession number :
- edsgcl.190766786