PHOENIX--(BUSINESS WIRE)--
Freeport-McMoRan Inc. (NYSE: FCX) announced today that it and its wholly
owned subsidiaries, Freeport-McMoRan Oil & Gas LLC and FCX Oil & Gas
Inc., have extended the expiration date for their previously announced
solicitation of consents from holders of their outstanding 6.125% Senior
Notes due 2019, 6.50% Senior Notes due 2020, 6.625% Senior Notes due
2021, 6.75% Senior Notes due 2022, and 6.875% Senior Notes due 2023
(collectively, the “Notes”) to 5:00 p.m., New York City time, on
September 28, 2016, unless further extended or earlier terminated.
The consent solicitations were previously scheduled to expire at 5:00
p.m., New York City time, on September 23, 2016. Except for the
extension of the expiration date as set forth above, the terms of the
consent solicitations remain unchanged. Holders of the Notes that have
validly delivered consents do not need to take further action in light
of the extension.
J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith
Incorporated are the Solicitation Agents in connection with the consent
solicitations. Persons with questions regarding the consent
solicitations should contact J.P. Morgan Securities LLC at (212)
270-7765 (collect) or (866) 834-4666 (toll-free) (Attention: Liability
Management Group). Requests for copies of the solicitation documents and
other related materials should be directed to D.F. King & Co., Inc., the
Information and Tabulation Agent for the consent solicitations, at (212)
269-5550 (collect) or (888) 886-4425 (toll-free).
This press release, the Consent Solicitation Statement and related
Consent Form shall not constitute an offer to sell or a solicitation of
an offer to purchase any Notes or other securities. The consent
solicitations are being made only by, and pursuant to the terms of, the
solicitation documents. No recommendation is made, or has been
authorized to be made, as to whether or not holders of Notes should
consent to the adoption of the proposed amendments to the consent
solicitations. Each holder of Notes must make its own decision as to
whether to give its consent to the proposed amendments.
FCX is a premier U.S.-based natural resources company with an
industry-leading global portfolio of mineral assets. FCX is the world's
largest publicly traded copper producer.
FCX's portfolio of assets includes the Grasberg minerals district in
Indonesia, one of the world's largest copper and gold deposits;
significant mining operations in the Americas, including the large-scale
Morenci minerals district in North America and the Cerro Verde operation
in South America. Additional information about FCX is available on FCX's
website at "fcx.com."
Cautionary Statement Regarding Forward-Looking Statements: This
press release contains forward-looking statements, which are all
statements other than statements of historical facts, such as
expectations related to completion of the consent solicitations to amend
the indenture governing the Notes. The words “anticipates,” “may,”
“can,” “plans,” “believes,” “estimates,” “expects,” “projects,”
“targets,” “intends,” “likely,” “will,” “should,” “to be,” ”potential"
and any similar expressions are intended to identify those assertions as
forward-looking statements. FCX cautions readers that forward-looking
statements are not guarantees of future performance and actual results
may differ materially from those anticipated, projected or assumed in
the forward-looking statements. Important factors that can cause FCX’s
actual results to differ materially from those anticipated in the
forward-looking statements include the delivery of the requisite
consents from the holders of each series of Notes to effect the proposed
amendments to the indenture governing the Notes and other factors
described in more detail under the heading “Risk Factors” in FCX's
Annual Report on Form 10-K for the year ended December 31, 2015, filed
with the U.S. Securities and Exchange Commission (SEC) as updated by
FCX’s subsequent filings with the SEC.
Investors are cautioned that many of the assumptions upon which FCX's
forward-looking statements are based are likely to change after the
forward-looking statements are made, including for example commodity
prices, which FCX cannot control, and production volumes and costs, some
aspects of which FCX may not be able to control. Further, FCX may make
changes to its business plans that could affect its results. FCX
cautions investors that it does not intend to update forward-looking
statements more frequently than quarterly notwithstanding any changes in
its assumptions, changes in business plans, actual experience or other
changes, and FCX undertakes no obligation to update any forward looking
statements.
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Source: Freeport-McMoRan Inc.