Freeport-McMoRan Inc.’s $1.2 Billion Notes Offering

Davis Polk advised Freeport-McMoRan Inc. (“FCX”) in connection with its SEC-registered offering of $1.2 billion of senior notes.

The offering consisted of two tranches of senior notes, including $600 million of 5.00% senior notes due 2027 and $600 million of 5.25% senior notes due 2029.

FCX will use the proceeds from the offering to redeem all of its 6.875% senior notes due 2023 and to fund the concurrent tender offers for its 4.00% senior notes due 2021 and 3.55% senior notes due 2022.

FCX is a leading international mining company with headquarters in Phoenix, Arizona. FCX operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum. FCX is one of the world’s largest publicly traded copper producers.

Morgan, Lewis & Bockius LLP advised Freeport-McMoRan Inc. on the deal.

The Davis Polk capital markets team included partner Richard D. Truesdell Jr. (Picture), counsel Jeffrey S. Ramsay and associate Jolie Yang. Partner William A. Curran and associate Joshua J. Micelotta provided tax advice. Counsel Loyti Cheng and associate Michael Comstock provided environmental advice. Associate J. Taylor Arabian provided 1940 Act advice.

Involved fees earner: Taylor Arabian – Davis Polk & Wardwell; Loyti Cheng – Davis Polk & Wardwell; Michael Comstock – Davis Polk & Wardwell; William Curran – Davis Polk & Wardwell; Joshua Micelotta – Davis Polk & Wardwell; Jeffrey Ramsay – Davis Polk & Wardwell; Richard Truesdell Jr. – Davis Polk & Wardwell; Jolie Yang – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Freeport-McMoRan Inc.;