FREEPORT-McMoRan INC. ANNOUNCES COMPLETION OF REDEMPTION OF ITS ZERO COUPON CONVERTIBLE SUBORDINATED DEBENTURES DUE 2006 (ABC SECURITIES).NEW ORLEANS--(BUSINESS WIRE)--June 13, 1995--Freeport-McMoRan Inc. (NYSE NYSE See: New York Stock Exchange :FTX (Fault Tolerant UNIX) Stratus Computer's version of Unix System V for its XA/R fault tolerant computer systems. See also FTTx. (operating system) FTX - Stratus' Unix operating system. ) announced today completion of the redemption of its outstanding Zero Coupon Convertible Subordinated Debentures due 2006 (ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. Securities). On May 12, 1995, FTX called the ABC Securities for redemption on June 12, 1995, and approximately $749.2 million principal amount ABC Securities of the approximately $749.7 million principal amount outstanding at the initiation of the call were redeemed for approximately $280.8 million cash. Approximately $0.5 million principal amount ABC Securities were converted into 7,040 shares of FTX common stock prior to the redemption. The redemption of the ABC Securities is an important step of the previously announced restructuring plan of FTX and subsequent tax-free distribution of Class B common stock of Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX FCX French Connexion (gaming site) FCX Freeport-McMoran Copper & Gold Inc (stock symbol) FCX Fuel Cell Experiment (Honda) FCX Fire Coordination Exercise FCX Fire Control Exercise ) owned by FTX to holders of FTX common stock. FTX is a leader in the exploration, mining, development, production, processing, and marketing of natural resources. The company's products included copper, gold, silver, phosphate fertilizers, phosphate rock phosphate rock n. Any of various rocks composed largely of phosphate minerals, especially apatite, used as fertilizer and as a source of phosphorous compounds. , sulphur, oil, and other natural resources. CONTACT: Freeport-McMoRan Inc., New Orleans Craig E. Saporito, 504/582-4476 Christopher D. Sammons, 504/582-4474 |
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