The 2.75% investment-grade notes are due 2051 and the concurrent tender offer is for debt due 2025

Davis Polk advised the joint book running managers and representatives of the underwriters, on an SEC-registered offering by Rio Tinto Finance (USA) Limited of $1.25 billion aggregate principal amount of 2.750% notes due 2051. The notes are guaranteed by Rio Tinto plc and Rio Tinto Limited.

Davis Polk also advised the dealer managers on a concurrent cash tender offer by Rio Tinto Finance (USA) Limited to purchase any and all of its outstanding 3.750% notes due 2025.

Rio Tinto is a mining and metals company operating in 35 countries around the world with four product groups: aluminum, copper, minerals and iron ore.

The Davis Polk corporate team included partners Reuven B. Young and Leo Borchardt and associates Sana Bargach, Tanu Sinha and Catherine Liu. Counsel Alon Gurfinkel and associate Kelli A. Rivers provided U.S. tax advice. All members of the Davis Polk team are based in the London office.