Davis Polk advised Freeport-McMoRan Inc. (“FCX”) in connection with its SEC-registered offering of $1.5 billion of senior notes. The offering consisted of $650 million of 4.375% senior notes due 2028 and $850 million of 4.625% senior notes due 2030. 

FCX will use the proceeds from the offering to fund the concurrent tender offers for its 3.550% senior notes due 2022, 3.875% senior notes due 2023 and 4.550% senior notes due 2024. Any net proceeds not used for the tender offers will be used for general corporate purposes, which may include repurchases or redemptions of FCX’s senior notes.

FCX is a leading international mining company with headquarters in Phoenix, Arizona. FCX operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum. FCX is one of the world’s largest publicly traded copper producers.

The Davis Polk capital markets team included partner Richard D. Truesdell Jr., counsel Jeffrey S. Ramsay and associates Jolie Yang and Chelsea Renter. Partner William A. Curran and associate Lex L. Varga provided tax advice. Associate Michael Comstock provided environmental advice. Associate Allison Gunther provided 1940 Act advice. All members of the Davis Polk team are based in the New York office.

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