Rio Tinto to cut debt pile by $US1.5bn

Rio Tinto will cut its debt by $US1.5 billion ($A1.97 billion) under cash tender offers for notes, which it announced last month.

Rio Tinto will cut its debt by $A1.97 billion under cash tender offers for notes. (AAP)

Rio Tinto will cut its debt by $US1.5 billion ($A1.97 billion) under the cash tender offers of its US dollar-denominated notes.

The purchase of the 2019, 2020, 2021 and 2022 notes, announced on September 26, was oversubscribed by October 7, 17 days before the offer was due to expire.

Rio Tinto has also issued a redemption notice for about $US1.5 billion of its 2017 and 2018 notes.