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.

The deal positions Rio Tinto as the ultimate parent company of Arcadium Lithium, now renamed Rio Tinto Lithium.

A unit of the world’s second-biggest miner is looking to sell bonds in as many as eight parts, with the longest portion a 40-year note.

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 has successfully raised $9bn through a US investment-grade bond sale to fund its acquisition of Arcadium Lithium, reported Bloomberg, citing sources. The debt was divided into eight segments,