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Freshly junked Anglo American launches jumbo bond buyback

Anglo American is looking to buy back up to $1.3-billion-equivalent of its outstanding bonds, as the mining giant looks to tackle short-term maturities and signal its strength despite losing its investment-grade rating. Anglo is targeting a total basket of $5.4-billion-equivalent of euro, sterling and US dollar bonds, with maturities ranging from December 2016 to September 2018.