Loan & DebtAug 12, 2026, 08:01 AM
Teck Resources Completes Debt Consent Solicitations for $1.03B Notes
AI Summary
Teck Resources Limited announced the successful completion of consent solicitations for six series of its outstanding notes, totaling approximately $1.03 billion. Holders of a majority in principal amount of each series delivered consents for proposed amendments to the relevant indentures. The amendments align certain covenants and events of default with those of Anglo American plc, with which Teck is set to merge. Teck will pay a consent fee of $1.00 per $1,000 principal amount to consenting holders.
Key Highlights
- Holders of at least a majority of each series of Affected Notes delivered consents for proposed amendments.
- Consent solicitations for six series of notes, totaling approximately $1.03 billion, expired on August 11, 2026.
- Teck will pay a Consent Fee of $1.00 for each $1,000 principal amount of notes for valid consents.
- Supplemental indentures were executed on August 11, 2026, incorporating the amendments.
- Amendments align certain covenants and events of default with Anglo American's debt indenture.
- Merger with Anglo American plc is expected to be completed between September 2026 and March 2027.
Price Impact
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