Teck to redeem $214m of notes

Teck Resources announced another round of note redemption to the value of $214-million on Friday, expecting interest expense savings resulting from the redemption of about $10-million a year, on an after-tax basis. The Vancouver-based diversified miner has issued a notice of redemption to redeem, on June 7, all of the about $84-million principal amount of its 3% notes due in 2019 and all of the $130-million principal amount of its 8% notes due in 2021.