Jumbo deals start to bite Rio and Reed

Rio Tinto, the Anglo-Australian miner, this week announced a wide range of measures — including 14,000 job cuts — to reduce its debt by $10bn by the end of next year, a clear manifestation of the pressure companies that recently took out jumbo loans are under.

  • 12 Dec 2008

"Given the unprecedented rate of deterioration of our markets," said Tom Albanese, Rio Tinto’s chief executive, "our imperative is to maximise cash generation and pay down debt."

Rio Tinto has about $38.9bn of debt, the majority of which stems from the $40bn loan it secured last year for the ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

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