Rio braves weak conditions to mine for $5bn

The tone in the US corporate bond market is still far from ideal, but borrowers are deciding it might not get any better and they had better put up with it. Rio Tinto brought its expected $5bn five, 10 and 30 year whopper, which became the market’s largest ever deal for a metals or mining firm. The Federal Open Market Committee meeting and data later in the week suggest the market may now pause for breath.