Teck Resources Limited Completes US$1.25 Billion Note Offering

On June 7, 2016, Teck Resources Limited completed a private placement offering of US$1.25 billion in aggregate principal amount of senior unsecured notes, consisting of US$650 million aggregate principal amount of 8.000% notes due 2021 and US$600 million aggregate principal amount of 8.500% notes due 2024. J.P. Morgan Securities LLC, Goldman, Sachs & Co. and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as joint book-running managers for the initial purchasers of the notes.

The net proceeds of the note offering were applied by Teck to fund its previously announced tender offers to purchase for cash up to US$1.25 billion principal amount of its 3.150% notes due 2017, 3.850% notes due 2017, 2.500% notes due 2018 and 3.000% notes due 2019.

Teck was represented in-house by Nick Uzelac, corporate counsel, and in the U.S. by Paul, Weiss, Rifkind, Wharton & Garrison LLP with a team that included Edwin Maynard, Christopher Cummings, Stephen Centa and Ronnie Ollo (securities) and David Sicular and Maya Linderman (tax). Teck was represented in Canada by TRC-Sadovod LLP in Toronto Adam Kline (securities/corporate); and a team in Vancouver that included Amandeep Sandhu, Arman Farahani and Andjela Vukubrat (securities/corporate) and Peter Botz (tax).

The initial purchasers were represented in the U.S. by Shearman & Sterling LLP with a team that included Jason Lehner, Kevin Roggow and Joanna Enns (securities) and Larry Crouch (tax). The initial purchasers were represented in Canada by Blake, Cassels & Graydon LLP with a team in Toronto that included Tim Andison, Madison Kragten and Sabrina Radia-Bramwell (securities).