Freeport-McMoRan Announces Extension of Consent Solicitations
September 23 2016 - 4:42PM
Business Wire
Freeport-McMoRan Inc. (NYSE: FCX) announced today that it and
its wholly owned subsidiaries, Freeport-McMoRan Oil & Gas LLC
and FCX Oil & Gas Inc., have extended the expiration date for
their previously announced solicitation of consents from holders of
their outstanding 6.125% Senior Notes due 2019, 6.50% Senior Notes
due 2020, 6.625% Senior Notes due 2021, 6.75% Senior Notes due
2022, and 6.875% Senior Notes due 2023 (collectively, the “Notes”)
to 5:00 p.m., New York City time, on September 28, 2016, unless
further extended or earlier terminated.
The consent solicitations were previously scheduled to expire at
5:00 p.m., New York City time, on September 23, 2016. Except for
the extension of the expiration date as set forth above, the terms
of the consent solicitations remain unchanged. Holders of the Notes
that have validly delivered consents do not need to take further
action in light of the extension.
J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner
& Smith Incorporated are the Solicitation Agents in connection
with the consent solicitations. Persons with questions regarding
the consent solicitations should contact J.P. Morgan Securities LLC
at (212) 270-7765 (collect) or (866) 834-4666 (toll-free)
(Attention: Liability Management Group). Requests for copies of the
solicitation documents and other related materials should be
directed to D.F. King & Co., Inc., the Information and
Tabulation Agent for the consent solicitations, at (212) 269-5550
(collect) or (888) 886-4425 (toll-free).
This press release, the Consent Solicitation Statement and
related Consent Form shall not constitute an offer to sell or a
solicitation of an offer to purchase any Notes or other securities.
The consent solicitations are being made only by, and pursuant to
the terms of, the solicitation documents. No recommendation is
made, or has been authorized to be made, as to whether or not
holders of Notes should consent to the adoption of the proposed
amendments to the consent solicitations. Each holder of Notes must
make its own decision as to whether to give its consent to the
proposed amendments.
FCX is a premier U.S.-based natural resources company with an
industry-leading global portfolio of mineral assets. FCX is the
world's largest publicly traded copper producer.
FCX's portfolio of assets includes the Grasberg minerals
district in Indonesia, one of the world's largest copper and gold
deposits; significant mining operations in the Americas, including
the large-scale Morenci minerals district in North America and the
Cerro Verde operation in South America. Additional information
about FCX is available on FCX's website at "fcx.com."
Cautionary Statement Regarding Forward-Looking
Statements: This press release contains forward-looking
statements, which are all statements other than statements of
historical facts, such as expectations related to completion of the
consent solicitations to amend the indenture governing the Notes.
The words “anticipates,” “may,” “can,” “plans,” “believes,”
“estimates,” “expects,” “projects,” “targets,” “intends,” “likely,”
“will,” “should,” “to be,” ”potential" and any similar expressions
are intended to identify those assertions as forward-looking
statements. FCX cautions readers that forward-looking statements
are not guarantees of future performance and actual results may
differ materially from those anticipated, projected or assumed in
the forward-looking statements. Important factors that can cause
FCX’s actual results to differ materially from those anticipated in
the forward-looking statements include the delivery of the
requisite consents from the holders of each series of Notes to
effect the proposed amendments to the indenture governing the Notes
and other factors described in more detail under the heading “Risk
Factors” in FCX's Annual Report on Form 10-K for the year ended
December 31, 2015, filed with the U.S. Securities and Exchange
Commission (SEC) as updated by FCX’s subsequent filings with the
SEC.
Investors are cautioned that many of the assumptions upon which
FCX's forward-looking statements are based are likely to change
after the forward-looking statements are made, including for
example commodity prices, which FCX cannot control, and production
volumes and costs, some aspects of which FCX may not be able to
control. Further, FCX may make changes to its business plans that
could affect its results. FCX cautions investors that it does not
intend to update forward-looking statements more frequently than
quarterly notwithstanding any changes in its assumptions, changes
in business plans, actual experience or other changes, and FCX
undertakes no obligation to update any forward looking
statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20160923005854/en/
Freeport-McMoRan Inc.Financial Contacts:Kathleen L. Quirk,
602-366-8016orDavid P. Joint, 504-582-4203orMedia Contact:Eric E.
Kinneberg, 602-366-7994
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