Teck Resources Completes Additional Refinancing and Debt Tender Offer

On September 22, 2010, Teck completed a public offering in the United States of US$700 million in aggregate principal amount of new senior unsecured notes, composed of US$500 million aggregate principal amount of 4.50 per cent notes due 2021 and US$200 million aggregate principal amount of 6.00 per cent notes due 2040.

Teck used the proceeds of the issuance to fund its cash tender offer to purchase up to US$1 billion of its outstanding 10.75 per cent senior secured notes due 2019, which closed October 7, 2010.

The syndicate for the offering of the new notes was led by J.P. Morgan Securities LLC, Banc of America Securities LLC, Citigroup Global Markets Inc. and Goldman, Sachs & Co., as joint book-running managers, who also acted as dealer managers for the tender offer.

Teck was represented in-house by Nick Uzelac, Corporate Counsel, and in Canada by Lang Michener LLP with a team in Toronto that included Hellen Siwanowicz, John Conway, Andrew Tam and Denno Chen (securities and corporate); Eric Friedman (banking); Paul Carenza (tax) and Henry Krupa (environmental); and a team in Vancouver that included John Morrison (banking) and Amandeep Sandhu (securities and corporate). Teck was represented in the US by Paul, Weiss, Rifkind, Wharton & Garrison LLP with a team in New York that included Edwin Maynard, Aun Singapore, Brett Nadritch, Leah Fleck, Courtney Haraguchi and Judith Tomkins (securities and corporate) and David Sicular and Mashiho Yuasa.

The joint book-running managers for the offering of the new notes and dealer managers for the tender offer were represented in Canada by Blake, Cassels & Graydon LLP with a team in Toronto that included Chris Hewat, Cynthia Sargeant and Gordon McKenna (securities) and Jeffrey Trossman and Wanda Rumball (tax); and in the US by Shearman & Sterling LLP with a team in Toronto that included Christopher Cummings, Hugo Sin, Sonja Sun and Mahsa Izadpanah (securities) and Laurence Crouch and Anil Kalia (tax).