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Teck Announces Receipt of Requisite Consents and Expiration of Consent Solicitations
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Financial Post
Article contentFollowing receipt of the Consents, the Company and The Bank of New York Mellon, as trustee (the “Trustee”) executed supplemental indentures incorporating the Amendments into the respective indentures governing the Affected Notes, consisting of: (i) the First Supplemental Indenture, dated as of August 11, 2026, between the Company and the Trustee, to the indenture governing the 2030 Notes; (ii) the First Supplemental Indenture, dated as of August 11, 2026, between the Company and the Trustee, to the indenture governing the 2035 Notes; and (iii) the Seventh Supplemental Indenture, dated as of August 11, 2026, between the Company and the Trustee, to the indenture governing the 2040 Notes, the 2041 Notes, the 2042 Notes and the 2043 Notes.
The Amendments changed certain of the covenants and events of default in the Affected Notes to align them in substance with the equivalent in Anglo American’s debt indenture and made certain other changes.
Anglo Teck may elect to provide a full and unconditional guarantee (the “Guarantee”) of the Company’s payment obligations with respect to such series of Affected Notes (which would not be expected to occur, if at all, prior to the consummation of the Merger).
The Amendments only become of practical application if Anglo Teck provides the Guarantee.
However, even if the Merger is completed, Anglo Teck has no obligation to provide any guarantee, and there can be no assurance that Anglo Teck will do so.