Teck Resources launches consent solicitation on six note series

Teck Resources Limited (NYSE: TECK) announced the commencement of consent solicitations covering six series of outstanding notes with a combined principal amount of approximately $1.03 billion, according to a press release dated August 3, 2026.

The affected notes include: $142.2 million of 3.900% notes due 2030, $179.5 million of 6.125% notes due 2035, $189.9 million of 6.000% notes due 2040, $242.5 million of 6.250% notes due 2041, $166.9 million of 5.200% notes due 2042, and $108.0 million of 5.400% notes due 2043.

The solicitations seek holder approval for amendments to certain covenants and events of default in the affected notes to align them with the equivalent provisions in Anglo American plc's debt indenture. Each consent solicitation expires at 5:00 p.m. New York time on August 11, 2026, unless extended or terminated.

Holders who deliver valid consents will receive a cash fee of $1.00 per $1,000 principal amount of notes, payable on the second business day after the expiration date, subject to the satisfaction or waiver of all applicable conditions. Each solicitation requires consents from holders of at least a majority in principal amount of the relevant note series.

The solicitations relate to a previously announced merger between Teck and Anglo American, under which Teck would become a wholly owned subsidiary of the combined entity, referred to as Anglo Teck. That merger, announced September 9, 2025, is expected to close between September 2026 and March 2027. The effectiveness of the consents is not contingent on completion of the merger.

If the amendments are approved and Anglo Teck subsequently provides a full and unconditional guarantee of Teck's payment obligations on the affected notes, Anglo Teck may substitute its own regulatory reporting for Teck's existing SEC and Canadian securities disclosure obligations. Anglo Teck has no obligation to provide such a guarantee.

Barclays Capital Inc., BofA Securities Inc., and TD Securities (USA) LLC are acting as solicitation agents.

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