September 8, 2010 / 1:49 PM / in 7 years

CORRECTED - UPDATE 1-Teck to issue new debt, buy back up $1 bln notes

(Corrects headline to U.S. dollars from Canadian dollars)

* To buy back for cash up to $1 billion of notes

* To offer up to $700 million in senior unsecured notes (In U.S. dollars unless noted)

TORONTO, Sept 8 (Reuters) - Teck Resources TCKb.TO said on Wednesday it has commenced an offer to purchase for cash up to an aggregate of $1 billion of its outstanding senior secured notes due 2019.

The Vancouver-based diversified miner said it is offering to sell up to $700 million of senior unsecured notes due 2021 and 2040 to help fund the repurchase of the senior secured notes.

Teck said the new senior unsecured notes are being offered via an underwritten public offering in the United States.

The company said tender offer for the repurchase of the outstanding senior secured notes would expire on Oct. 5 unless extended or earlier terminated. (Reporting by Euan Rocha; editing by Peter Galloway)

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