Teck to book charge for note redemption

Fri Oct 19, 2012 4:43pm EDT
 
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TORONTO Oct 19 (Reuters) - Teck Resources Ltd will book a $259 million accounting charge in the fourth quarter as it redeems its outstanding 2019 senior notes in a move to reduce its annual interest cost, the Canadian miner said on Friday.

Teck will redeem all of the $521.3 million in principal outstanding on the senior notes, which had a coupon rate of 10.75 percent.