| ||
| ||
| ||
 |
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
BHP plans $750 million bond issue
SYDNEY, Australia (CNN) -- The world's biggest diversified resources group, BHP Billiton, said Friday it planned to raise $750 million via its first global bond issue to pay down debt and use for "general corporate purposes". BHP, which is dual-listed in London and Australia, said the 10-year bonds have been registered with the U.S. Securities and Exchange Commission (SEC), and an application would be made to list them on the Luxembourg Stock Exchange. The notes will be issued by BHP Billiton Finance (USA) Ltd, guaranteed by BHP Billiton. They will be rated A with a positive outlook by Standard & Poor's and A2 with a stable outlook by Moody's Investors Service. BHP, which has extensive interests in resources such as coal, oil and gas, iron ore, alumina, copper, nickel, silver and diamonds, said last month it was selling its 25 percent stake in the Alumbrera copper and gold mine in Argentina for $180 million. In February it reported a 19 percent drop in first half earnings to $931 million on revenue of $8 billion, reflecting what it called exchange rate pressures. BHP shares are 1.41 percent higher at A$9.38 on the Australian Stock Exchange near midday Friday, out-performing a 0.2 percent gain for the broader market.
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
