BHP prices $4.5bn bond offer
PERTH (miningweekly.com) – Diversified miner BHP has priced a $4.75-billion senior secured bond offer in the US market.
The bonds will be issued by subsidiary BHP Billiton Finance under BHP’s US debt registration statement, which was filed with the US Securities and Exchange Commission on February 22.
The bonds will be guaranteed by BHP.
The bond offer comprises five tranches of bonds, including $850-million three-year bonds priced at a fixed coupon of 5.25% maturing in 2026, $700-million five-year bonds priced at a fixed coupon of 5.1% maturing in 2028, $900-million seven-year bonds priced at a fixed coupon of 5.25% maturing in 2030, $1.5-billion 10-year bonds priced at a fixed coupon of 5.25% maturing in 2033, and $800-million 30-year bonds priced at a fixed coupon of 5.5% maturing in 2053.
BHP said on Wednesday that the proceeds from the bonds, together with cash on hand, if applicable, would be used to repay the acquisition facility used for the acquisition of Oz Minerals and for other general corporate purposes.
Settlement of the bonds is expected to occur on September 8, subject to customary closing conditions.
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