Teck Completes US$4.225B Note Offering

On May 8, 2009, Teck Resources Limited completed a private placement offering in the US and Canada of US$4.225 billion in aggregate principal amount of senior secured notes, consisting of US$1.315 billion aggregate principal amount of 9.75 per cent notes due 2014, US$1.06 billion aggregate principal amount of 10.25 per cent notes due 2016, and US$1.85 billion aggregate principal amount of 10.75 per cent notes due 2019. J.P. Morgan Securities Inc., Banc of America Securities LLC and Citigroup Global Markets Inc. 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 repay borrowings under its existing bridge credit facility.

Teck was represented in-house by Peter Rozee, senior vice-president, commercial affairs, and Nick Uzelac, corporate counsel, and in Canada by Lang Michener LLP with a team in Toronto that included Hellen Siwanowicz, Andrew Tam, Denno Chen, Stephen White, David Mendicino and Christos Gazeas (securities/corporate), and Bob Cranston and Eric Friedman (banking); and a team in Vancouver that included Peter Botz and Christine Man (tax); John Morrison (banking), and Amandeep Sandhu and Corin Bowman (securities/corporate). Teck was represented in the US by Paul, Weiss, Rifkind, Wharton & Garrison LLP with a team in New York that included Edwin Maynard, Andrew Foley, Aun Singapore, Leah Fleck, Piibe Jogi, Natasha Alexis and Kate Fischer (securities), Valerie Radwaner (finance), David Sicular and Mashiho Yuasa (tax) and environmental counsel William O'Brien.

The initial purchasers were represented in Canada by Blake, Cassels & Graydon LLP with a team in Toronto that included Chris Hewat, Frank Arnone, Cynthia Sargeant and Gordon McKenna (securities), and Michael Harquail, Nathan Cheifetz, Michelle Schwartzberg and Michelle Laniel (financial services); and in Calgary by Wanda Rumball (tax). The initial purchasers were represented in the US by Shearman & Sterling LLP with a team in Toronto that included Christopher Cummings, Jason Lehner, Stephen Centa, Hugo Sin, Adam Lewinberg and Christian Kurtz (securities); a team in Menlo Park that included Laurence Crouch and Anil Kalia (tax); and in New York by Jeffrey Salinger (property/environmental).