VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 29, 2008) - Teck Cominco Limited ("Teck") announced today that the syndication of its fully underwritten US$4 billion senior term loan facility and US$5.81 billion senior bridge loan facility (collectively, the "Facilities") in connection with its proposed acquisition of the assets of Fording Canadian Coal Trust is now complete, and that it expects to enter into definitive credit agreements for the Facilities on or before September 30, 2008. Teck intends to apply the proceeds of the Facilities to the cash portion of the purchase price for Fording's assets.
This press release contains certain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information as defined in the Securities Act (Ontario). Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur, or be achieved.
Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Teck to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These forward-looking statements include estimates, forecasts, and statements as to management's expectations concerning the acquisition of the assets of Fording and the financing of that acquisition. These forward-looking statements involve numerous assumptions, risks and uncertainties and actual results may vary materially. These statements are based on a number of assumptions, including, among others, assumptions regarding general business and economic conditions, credit market conditions and receipt of necessary approvals. The foregoing list of assumptions is not exhaustive. Events or circumstances could cause actual results to differ materially.
Factors that may cause actual results to vary include, but are not limited to, risks relating to the receipt of necessary approvals, changes in interest and currency exchange rates, changes in general economic conditions or conditions in credit and financial markets and other risk factors as detailed from time to time in Teck's reports filed with Canadian securities administrators.
Certain of these risks are described in more detail in the annual information form of Teck and in its public filings with Canadian securities administrators. Teck does not assume the obligation to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.
Teck is a diversified mining company, headquartered in Vancouver, Canada. Shares are listed on the Toronto Stock Exchange under the symbols TCK.A and TCK.B and the New York Stock Exchange under the symbol TCK. Teck is a world leader in the production of zinc and metallurgical coal and is also a significant producer of copper, gold and specialty metals. Further information can be found at www.teckcominco.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Teck Cominco Limited
Vice President, Investor Relations & Strategic Analysis