The world's biggest iron ore producer Rio Tinto will raise $9 billion in U.S. investment-grade bonds as it seeks to fund its recently-closed buyout of Arcadium Lithium, the miner said on Wednesday. Rio is offering the fixed and floating rate debt in eight tranches with terms varying from two years to 40 years.

(Reuters) - The world's biggest iron ore producer Rio Tinto is offering $9 billion in U.S. investment-grade bonds as the miner seeks funding for its recently-closed buyout of Arcadium Lithium, Bloomberg News reported on Tuesday.

Rio Tinto Group has scrapped plans to raise as much as $5 billion in a share sale following pushback from investors, people with knowledge of the matter said.