BHP Billiton enters bond market
As the Eurozone appears to be heading over the event horizon into a black hole of debt, investors are wondering where to put their money. Cue, stage left, BHP Billiton, the global mining giant.
As the Eurozone appears to be heading over the event horizon into a black hole of debt, investors are wondering where to put their money. Cue, stage left, BHP Billiton, the global mining giant.
BHP is entering the bond market to raise $3bn for what it describes for "general corporate purposes" and to pay back outstanding debts.
There will be three tranches: $1,000m at 1.125% due 2014, $750m at 1.875% due 2016, and $1,250m at 3.250% due in 2021.
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BHPS's share price was down 1.48% in morning trading.
BS
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