Photo by: Bloomberg
PERTH (miningweekly.com) – Mining major BHP Billiton has repurchased $2.5-billion worth of bonds, allowing the miner to extend its average debt maturity profile and enhancing its capital structure.
BHP this week announced the expiration of its tender offers for its $1.25-billion, 3.25% senior notes due in 2021, its $1-billion 2.875% senior notes due in 2022, and its $1.5-billion 3.85% senior notes due in 2023.
Meanwhile, the group said its $500-million 2.05% senior notes, due in 2018, will be redeemed on March 23 at a “make-whole” redemption price equal to $1 020.28 per $1 000 principal amount of 2018 notes, which will include an accrued principal interest of $9.85.
After the redemption date, the 2018 notes will no longer be deemed outstanding and interest on these notes will cease to accrue.
With the redemption of the 2018 notes, BHP has now repurchased some $2.34-billion of outstanding notes.