06:42 AM EDT, 07/16/2024 (MT Newswires) -- Teck Resources (TECK-B.TO, TECK-A.TO) on Monday said it has increased the size of its six offers to purchase for cash outstanding notes to about US$1.384 billion, up from US$1.25 billion, an amount sufficient to accept all notes in full.

The offers expired at 5 p.m. ET on July 15. The settlement date is expected to be on July 19.

About US$1.37 billion of notes were validly tendered and not validly withdrawn as of the expiration date. In addition, about US$16.3 million of notes were tendered that remain subject to the holders' performance of the delivery requirements under guaranteed delivery procedures.

All of the US$1.37 billion of notes have been accepted for purchase, excluding the notes delivered pursuant to the guaranteed delivery procedures.

Holders whose notes have been accepted for purchase will receive the applicable total consideration for each US$1,000 of the notes, payable in cash on the settlement date.

Teck's share price at last look fell 1% to US$49.50 in U.S. pre-market trading on Tuesday.