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Turquoise Hill Resources Ltd closes rights offering

Monday, 13 Jan 2014 04:54pm EST 

Turquoise Hill Resources Ltd:Says closing of its rights offering, which expired on Jan. 7, 2014, and confirmed the offering generated about $2.4 bln in gross proceeds.Says it is using the net proceeds from the rights offering to repay all outstanding amounts under its $1.8 billion interim funding facility and its secured $600 million bridge facility with Rio Tinto.Says remaining proceeds will be used for the continued funding of the Oyu Tolgoi Project, working capital, general administrative expenses and other corporate expenses.