BHP raises $3 billion through US bond issue

BHP Group, the world’s largest listed miner, on Wednesday said it raised $3 billion through an issue of senior unsecured bonds in the United States.

The bonds will be issued in three tranches by BHP’s subsidiary in the United States and will be guaranteed by the miner. It will use the proceeds from the bonds for general corporate purposes, BHP said.

The principal amounts on the three tranches range from $750 million to $1.25 billion with a tenor ranging from five years to a decade. It will pay a fixed coupon rate between 5.0% and 5.30% on the bonds.

(By Sameer Manekar; Editing by Anil D’Silva)

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